Fund Description

The fund invests at least 65% of total assets in stocks, primarily common stock. Using predominantly quantitative analysis, supplemented by fundamental analysis depending on market conditions, it invests principally in dividend-paying stocks within the Russell 1000 Value Index universe that have above average dividend yields. The adviser ranks dividend-paying stocks within sectors into five yield quintiles and generally selects holdings from the top three quintiles. The fund targets returns through capital appreciation and dividend income, using a diversified, value-oriented approach emphasizing low price/book and price/earnings ratios, and may at times hold significant exposure to the financials sector.