Fund Description

The fund is non-diversified and, under normal circumstances, invests primarily in equity securities of U.S. small- and mid-sized growth companies. Small- and mid-sized companies are defined, at the time of purchase, as those with market capitalizations up to the largest market cap stock in the Russell Midcap Growth Index at reconstitution. It seeks businesses believed to offer significant growth opportunities, sustainable competitive advantages, exceptional management, and an attractive valuation. Due to its long-term approach, it may hold securities that have appreciated beyond their original market cap ranges.