Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large-capitalization companies, defined as those with market capitalizations at the time of purchase within the range of companies in the S&P 500 Index, its benchmark. Its sub-adviser uses fundamental analysis to build a broadly diversified portfolio of growth, value, and blended-style stocks, assessing intrinsic value using company financials, economic outlook, management, industry conditions, and competition. It typically sells holdings after negative fundamental changes, when fully valued, out of favor, or to pursue more attractive opportunities.