Fund Description

The fund invests at least 80% of its net assets in equity securities of small- and mid-cap companies, defined at purchase by the market capitalization ranges of the Russell 2500 Index and the Russell Midcap Index, respectively. Under normal market conditions, it invests predominantly in equity securities, predominantly common stock. It may at times hold significant positions in sectors such as information technology, consumer discretionary, healthcare, and industrials. It may also make private investments in non-publicly traded companies, including pre-IPO issuers, often via private placements. The manager uses fundamental bottom-up research focused on growth potential, quality, and valuation.