Fund Description

The fund invests in a broad, diverse portfolio of small-cap stocks the Adviser determines are value stocks, selected by relative ranking on value measures such as price-to-book, price-to-earnings, price-to-sales, or price-to-cash-flow. It uses a statistical, evidence-based approach derived from research and academic theory, and generally weights holdings roughly in proportion to market capitalization, subject to risk constraints. Under normal circumstances, it invests 80% of net assets (plus borrowings) in equity securities of small-cap companies, primarily listed on the NYSE, NYSE American, and Nasdaq, while incorporating third-party ESG information as one consideration.