Fund Description

The fund seeks to achieve its objective by actively identifying potential investments based on fundamental and quantitative analysis and constructing a portfolio while managing various risk factors compared to the Russell Midcap Index, which represents the fund's investment universe. It normally invests at least 80% of the fund's net assets (for purposes of this 80% policy, net assets include any borrowings for investment purposes) in equity securities of medium market capitalization issuers, including common stocks, depositary receipts, REIT equity interests, and other ownership securities. It is not constrained by a particular style and may hold growth, value, or a mix, including foreign securities. It invests across industries and sectors but may invest significantly in a single industry or sector. Portfolio construction uses optimization and targets predicted tracking error of about 3% compared to the index.