Fund Description

The fund invests in common stocks of about 20 to 35 companies, primarily large-cap firms, and normally targets issuers ranked among the top 1,000 U.S. companies by market capitalization. It may invest in U.S. dollar-denominated securities of foreign companies trading in the U.S., including sponsored or unsponsored depositary receipts, and in publicly traded REITs, and it may lend securities. As a non-diversified fund, it may hold a greater percentage of assets in a single issuer than diversified funds. The portfolio managers use fundamental analysis and financial quality rankings to select high quality companies the portfolio managers believe have sustainable above-average earnings growth potential. The portfolio managers seek to manage individual security risk through analysis of each security's risk/reward potential and to manage portfolio risk by constructing a portfolio of what they believe to be attractively valued growth companies.