Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities, focusing on dividend-paying stocks and other income-producing investments. Its sub-adviser uses a disciplined process combining proprietary computer modeling, fundamental analysis and risk management, and may invest in stocks with value or growth characteristics. The process seeks broad exposure to the investment characteristics and different sectors of the S&P 500 Index, emphasizing higher dividend-paying stocks within each segment. The model ranks stocks by value, growth and financial profile; holdings are diversified across companies and industries. It may also invest in low- or non-dividend-paying companies for risk management or potential future dividends, and may sell if attractiveness deteriorates, valuation becomes excessive, fundamentals weaken, or better opportunities arise.