Fund Description

The fund invests, under normal circumstances, at least 80% of its net assets in common stocks, including derivatives and other instruments with similar economic characteristics. It may target issuers of any market capitalization but is currently expected to focus substantially on large-capitalization firms. The fund can allocate up to 10% of its net assets to real estate investment trusts (REITs) and invest up to 25% in foreign issuers, potentially including emerging markets and depositary receipts. Derivative instruments such as forward foreign currency contracts and futures may be utilized for hedging and exposure purposes. The portfolio managers emphasize a value investment style, targeting well-established, undervalued companies with growth potential.