Fund Description

The fund invests at least 80% of net assets in equity securities of small-cap companies, predominantly common stock. Small-cap companies are those with market capitalizations not exceeding $1.5 billion or the highest market capitalization in the Russell 2000 Index, whichever is greater, at the time of purchase. It may also invest in equity securities of larger companies and may at times hold significant positions in sectors such as information technology, healthcare, consumer discretionary and industrials. It may make private investments in non-publicly traded companies, including pre-IPO issuers, often via private placements. The manager uses fundamental, bottom-up research to seek companies meeting its criteria of growth potential, quality and valuation.