Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of small- and mid-capitalization companies. It primarily invests in common stock and preferred stock of U.S. small- and mid-capitalization companies. Small- and mid-capitalization companies are those with a market capitalization, at the time of purchase, between $250 million and $10 billion. The fund may hold securities that later fall outside this range, which may result in less than 80% exposure at times. It uses an unrestricted opportunity set and seeks diversification across companies and industries.