Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in issuers domiciled in or with principal activities in the United States, or in instruments with similar economic characteristics, and at least 80% of its net assets in equity securities of large capitalization companies with market capitalizations similar to those in the Russell 1000 Index. It invests primarily in equity securities the subadviser views as undervalued or out of favor, using value criteria including price-to-earnings, price-to-book, price momentum, share change and quality, based on quantitative and fundamental analysis. It expects to hold about 175-250 stocks.