Fund Description

The fund normally invests at least 80% of net assets in equity securities, including those convertible into common stock. It generally invests primarily in common stocks, with remaining assets in other equity-related instruments such as convertible securities, equity-linked notes and REITs, and may invest up to 10% of net assets in REITs. It does not concentrate in any one industry but may make significant sector investments at times. The fund may invest in foreign securities, but limits such investments to no more than 15% of its total assets in securities of issuers domiciled outside the United States. The manager builds a broadly diversified, bottom-up portfolio of financially strong "blue chip" companies, assessing market price versus long-term earnings, cash flow and balance sheet strength, and considering metrics such as P/E, return on capital, profit margins and asset value, along with dividend yield and dividend growth.