Fund Description

The fund uses an integrated approach combining research, portfolio design, portfolio management, and trading. It seeks broad diversification across companies and sectors while balancing long- and shorter-term drivers of expected returns and trading costs. It is designed to hold readily marketable securities of large U.S. companies the advisor views as having high profitability and high relative prices (growth), assessed primarily by price-to-book and potentially other valuation measures. Under normal circumstances it invests at least 80% of net assets in large-cap U.S. companies. It may use momentum and short-run reversal signals, lend securities, and use equity index futures and options to adjust market exposure. Its ETF class is actively managed and does not track an index.