Fund Description

The fund uses an integrated approach combining research, portfolio design, portfolio management, and trading, emphasizing long-term drivers of expected returns while balancing risk through broad diversification across companies and sectors. Using a market capitalization weighted approach, it is designed to purchase a broad and diverse group of the securities of U.S. micro cap companies and may emphasize smaller-capitalization, lower relative price, and/or higher profitability stocks. Under normal circumstances it invests at least 80% of net assets in U.S. micro cap securities as defined by the advisor. It may adjust or exclude holdings based on shorter-term factors, use flexible trading, use futures and options on futures to manage equity exposure, and lend securities to generate income.