Fund Description

The fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of mid-capitalization companies, primarily publicly traded U.S. stocks deemed midsize by the Advisor and consistent at purchase with the Russell Midcap Growth Index. Up to 20% may be invested in small- and large-cap equities, and up to 20% of total assets in U.S. dollar-denominated foreign equities, including ADRs and GDRs traded on U.S. exchanges. It targets companies with earnings growth, using bottom-up, growth-style, fundamental research emphasizing earnings growth and free cash flow, and may have significant sector exposure.