Fund Description

The fund normally invests primarily in equity securities, including common stocks, depositary receipts, and other securities representing an ownership interest or right to acquire an ownership interest in an issuer. The adviser focuses on stocks of companies it believes have above-average earnings growth potential. Although it may invest in companies of any size, it primarily invests in small-capitalization companies and may invest in foreign securities. The fund is typically diversified across industries and sectors but may invest a significant percentage of assets in a single industry or sector. It uses an active bottom-up approach, selecting investments mainly through fundamental analysis, with quantitative screening tools also considered.