Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities-common and preferred stocks, convertible securities, warrants, and rights-of small-cap growth companies. The adviser defines small-cap companies as those, at purchase, with market capitalizations within the range of the Russell 2000 Growth Index, and growth companies as Russell 3000 Growth Index constituents or those exhibiting growth characteristics consistent with inclusion in that index. It may invest up to 20% in ADRs and foreign companies traded on U.S. exchanges, may invest in any sector, and may have significant exposure to industrials, information technology, and healthcare. Holdings are selected through in-depth in-house research and may be sold to secure gains, limit losses, or reinvest.