Fund Description

The fund invests predominantly in equity securities, primarily common stocks, across any capitalization range with a focus on large caps, and may hold securities convertible into common stock. It may invest up to 25% of assets in foreign securities, directly or through depositary receipts. As a non-diversified fund, it generally invests a greater proportion of its assets in the securities of one or more issuers and invests overall in a smaller number of issuers than a diversified fund, and it may at times have significant investments in particular sectors. It regularly uses equity-related derivatives and complex equity securities, including options, futures and equity-linked notes, to enhance returns, increase liquidity, gain exposure efficiently or hedge, and may take net long or net short exposures. It seeks income by selecting stocks with dividend yields the investment manager believes are attractive, and the investment manager applies a bottom-up, value oriented, long-term approach.