Fund Description

The fund invests primarily in equity securities of U.S. companies the adviser believes trade at attractive valuations and have strong or improving business models. It monitors fundamental performance for signs of future financial success and relies heavily on fundamental analysis by a dedicated investment team that screens a largely U.S. research universe, then conducts fundamental research to better understand the company's business model. Factors considered include free cash flow valuations, profitability, stable-to-improving balance sheets, and management stewardship. It may invest across market caps and does not intend to concentrate by sector. The fund may use derivatives, including options, futures, forwards, and swaps, to earn extra income, adjust exposure, or to protect all or a portion of the portfolio from a decline in value, sometimes within certain ranges.