Fund Description

The fund invests at least 80% of its assets in securities of large-capitalization companies, defined as those with market capitalizations within the range of the Russell 1000 Index. In selecting stocks, the portfolio managers seek companies whose share prices may not adequately reflect their value, buying what they view as undervalued stocks and holding them until prices reach levels they believe more accurately reflect fair value. They use various analytical research tools and techniques in buy, hold, and sell decisions. The fund typically holds a relatively limited portfolio of about 30-50 companies and may invest a portion of assets in foreign securities that meet its selection standards.