Fund Description

The fund normally invests at least 80% of its net assets plus borrowings in equity securities of small-capitalization companies, which the Advisor considers to be those with market capitalizations like those found in the Russell 2000 Index, measured at the time of initial purchase, and may invest in foreign (non-U.S.) securities. It seeks companies whose future prospects are misunderstood or not fully recognized by the market using a fundamental value, disciplined bottom-up process based on rigorous internally generated research, typically holding about 50-100 securities and evaluating financially material ESG factors. It has no predetermined sales rules beyond diversification guidelines, and assesses sells based on relative valuation, operating trends, fundamentals deterioration, and diversification.