Fund Description

The fund invests at least 80% of net assets (plus borrowings for investment purposes) in equity securities of large-cap companies. The portfolio managers generally consider large-cap companies to be those with market capitalizations within the range of companies included in the Russell 1000 Value Index, although the portfolio will generally consist of stocks with a market capitalization equal to or greater than the median market capitalization of companies included in that index. Under normal market conditions, it invests primarily in value stocks, emphasizing dividend-paying stocks while also allowing non-income producing stocks. It may invest in convertible debt of any credit quality, up to 25% in foreign securities including emerging markets, ETFs, REITs, and may lend securities.