Fund Description

The fund invests at least 80% of net assets (plus borrowings) in equity securities and equity-related derivatives. Up to 20% may be invested in fixed income, including below-investment-grade and comparable unrated securities, other income instruments, and/or currencies. It may invest without limit in foreign securities across developed, emerging and frontier markets, including depositary receipts. It may invest in companies of any capitalization, REITs and ETNs, and may use ETFs and other registered funds for cash management or market/sector exposure. It may use derivatives, covered short sales, forward commitments and securities lending, and uses a top-down, quantitative, dynamically rebalanced approach to seek diversified, risk-adjusted returns.