Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large companies, defined by market capitalizations within the range of the Russell 1000 Index at purchase. The portfolio team focuses on U.S. dividend-paying companies and seeks capital appreciation. It may invest in common and preferred stocks, equity interests in trusts (including REITs and privately offered trusts), partnerships, joint ventures, limited liability companies, and similar structures, as well as instruments convertible or exercisable into such investments. Up to 20% may be invested in foreign securities, including emerging markets and ADRs. It may sell holdings based on market, economic, or fundamental considerations and may temporarily use defensive positioning.