Fund Description

The fund invests at least 80% of net assets (including borrowings for investment purposes) in equity securities, such as common and preferred stocks, of U.S. small-cap companies the Advisor believes are undervalued. Small-cap companies are those with market capitalizations, at purchase, within the market-cap range of any stock in the Russell 2000 Index at its last rebalancing. The Advisor combines quantitative and fundamental research, using a proprietary multi-factor model to identify securities with revenue and earnings growth potential and reasonable valuations, then applies fundamental analysis to make buy and sell decisions.