Fund Description

The fund invests, under normal circumstances, at least 80% of net assets plus borrowings in equity securities of large companies, defined by market capitalizations within the range of the S&P 500 Index at the time of purchase. Under normal market conditions, it primarily invests in U.S. traded equity securities, including domestically traded U.S. common stocks (including REITs and ETFs) and U.S.-traded equity stocks of foreign companies, and may also invest in mid-cap securities. The adviser applies behavioral finance principles, ranking companies on factors such as valuation, price momentum, and earnings revisions, while considering market capitalization, country and sector exposure, and may sell when rankings weaken or for liquidity and diversification reasons.