Fund Description

The fund, under normal circumstances, invests at least 80% of net assets (plus any borrowings for investment purposes) in common stocks of small- and mid-sized companies whose market capitalization at purchase is less than the 12-month maximum market cap of companies in the Russell 2500tm Value Index. It targets stocks believed to be undervalued or out of favor, typically holding 40-50 equity securities, and may use other instruments and invest in IPOs. It may invest in foreign securities and in REITs and similar entities, and emphasizes downside risk while considering financially material ESG factors alongside other fundamentals.