Fund Description

The fund primarily invests in common stocks, focusing at least 80% of its assets in low-priced stocks, defined as those priced at or below $35 per share or with an earnings yield at or above the median for the Russell 2000 Index. It may also consider the price of convertible preferred stocks and securities contributed in kind. The investment strategy includes potential exposure to both domestic and foreign issuers, and it may invest in growth, value, or a combination of both stock types. The selection of investments is based on fundamental analysis of each issuer's financial condition, industry position, and prevailing market and economic conditions. Effective December 11, 2025, derivatives that provide exposure to these investments will be included in the 80% policy.