Fund Description

The fund invests a majority of its assets in common stocks of small- and medium-sized companies traded on national securities exchanges, the NASDAQ stock market, and the over-the-counter market. Up to 30% of net assets may be invested in foreign securities, and the adviser may emphasize a particular country or group of countries, increasing the risks of such concentration. The adviser uses a bottom-up, growth-oriented process. The fund may also invest in fixed-income securities and ADRs, and may use derivatives (such as futures, options, and swaps) and/or hybrid instruments to increase or decrease the portfolio's exposure to the investments underlying the derivative or hybrid instruments, to realize gains from trading a derivative contract, or to hedge against potential losses, with no assurance these techniques will work as intended.