Fund Description

The fund invests, under normal market conditions, at least 80% of net assets (plus borrowings for investment purposes) in securities of small- and mid-capitalization companies and other instruments, such as certain investment companies, that seek to track the performance of securities of small and mid capitalization companies, whose market capitalizations at the time of purchase typically fall within the range of the Russell MidCap Index and the Russell 2000 Index. It primarily invests in equity securities, but may also hold large-cap stocks, U.S. and foreign issuers, ADRs/GDRs, other investment companies including ETFs, futures for cash equitization, and REITs. It favors growth and may at times have significant sector exposure. The portfolio combines multiple sub-advisers' strategies, with the Adviser determining the amount of fund assets to allocate to each sub-adviser and may adjust allocations at any time.