Fund Description

The fund uses an integrated investment approach combining research, portfolio design, portfolio management, and trading. Its design emphasizes long-term drivers of expected returns while balancing risk through broad diversification across companies and sectors, and it is designed to purchase a broad and diverse group of readily marketable securities of U.S. small cap companies using a market-capitalization-weighted approach. Under normal circumstances, it invests at least 80% of net assets in small-cap U.S. companies. It may emphasize smaller-cap, lower relative price, and/or higher profitability stocks, with criteria subject to change, and may adjust exposure or exclude issuers based on shorter-term considerations. It may use equity index futures and options on futures to manage equity exposure and may lend securities to generate income.