Fund Description

The fund invests primarily in common stocks of small companies with market capitalizations below the largest companies in the Russell 2000 Value Index, and may invest a portion of assets in micro-capitalization securities, generally those with market capitalizations under $500 million at the time of purchase. It applies a disciplined 10 Principles of Value Investing framework to seek securities with potential for appreciation and a margin of safety to limit downside risk, including catalysts, low price relative to earnings, cash flow and book value, financial soundness, positive earnings dynamics, business strategy, management and insider ownership, company value, and technical analysis.