Fund Description

Under normal circumstances, the fund invests at least 80% of net assets plus any borrowings for investment purposes in a diversified portfolio of equity investments in small-cap issuers, and may invest outside the then-existing small-cap capitalization range. It targets companies the Investment Adviser believes are positioned for long-term growth, investing primarily in publicly traded U.S. securities and up to 25% in foreign securities, including emerging countries and foreign-currency securities. It may also invest in privately held companies and companies that only recently began to trade publicly. The Adviser evaluates business quality, growth sustainability, management, valuation, and may integrate ESG factors. Up to 20% may be invested in fixed income securities. Performance is measured against the Russell 2000 Growth Index (Total Return, USD).