Fund Description

The fund invests at least 80% of net assets in medium-size companies, defined as those with market capitalizations at purchase within the Russell 3000 Index range excluding the largest 100 companies, and is managed so its weighted capitalization falls within the Russell Midcap Index range. It seeks companies whose stock prices may not reflect their value, aiming to buy undervalued stocks and hold them until prices reach levels the managers believe more accurately reflect fair value. The managers use various analytical research tools and techniques to make buy, hold, and sell decisions. The fund may invest a portion of assets in foreign securities that meet its selection standards. Stocks may be sold if valuation criteria change, risks outweigh return opportunity, better alternatives emerge, or events alter prospects.