Fund Description

The fund invests at least 80% of its assets in equity securities of large companies, including common stocks and debt and preferred securities convertible to common stock, with large companies defined by market capitalizations within the Russell 1000 Value Index universe at purchase. It invests primarily in common stocks and may use derivatives, mainly futures contracts, to gain targeted equity exposure from cash positions. The adviser uses a three-step process combining research, valuation and stock selection, assessing company prospects over as long as five years, ranking firms by relative value, and considering ESG factors, including analyzing key opportunities and risks to identify financially material issues and key issues that merit engagement with issuers. The strategy may involve active, frequent trading and high portfolio turnover.