Fund Description

The fund seeks to achieve its investment objective by investing at least 80% of net assets (plus any borrowings for investment purposes) in common stocks of small-cap companies, defined as those with market capitalizations not exceeding the highest market capitalization in the Russell 2000 Growth Index during the preceding 12 months. The remaining 20% may be invested in equity securities of companies with market caps above or below that range. It may invest across all sectors and at times favor or have significant exposure to particular sectors. It may invest without limit in U.S. dollar-denominated foreign equities, including ADRs and GDRs, though such investments are not expected to exceed 20% of total assets. The advisor may invest in the securities of companies it believes have a history of growth or that it believes have growth potential, using fundamental research and may sell based on price targets, changing outlook, or better opportunities.