Fund Description

The fund invests at least 80% of net assets, plus any borrowings for investment purposes, in equity securities of U.S. and foreign financial services companies of any size, including banks, thrifts, finance and financial technology companies, brokerage and advisory firms, real estate related firms, insurers, and financial holding companies. Equity securities include, but are not limited to, common and preferred stock and their equivalents, such as publicly traded limited partnerships, depositary receipts, rights, and warrants, and may include emerging-market companies. It may invest through investment companies and pooled vehicles, and may also hold U.S. and foreign bonds, including up to 5% in below-investment-grade bonds, and up to 15% in investment-grade short-term securities. Derivatives may be used to a limited extent. The manager uses fundamental analysis to identify comparatively undervalued securities.