Fund Description

The fund normally invests at least 80% of its net assets in equity securities; for purposes of this 80% policy, net assets include the amount of any borrowings for investment purposes. Equity securities include common stocks, depositary receipts, and other securities representing an ownership interest, or the right to acquire one. The adviser is not constrained by a particular style and may invest in growth, value, or a blend, including companies of any size and foreign securities. It invests across industries and sectors but may concentrate in one. A team uses an active, bottom-up approach driven mainly by fundamental analysis, with quantitative screens also considered, and expects industry exposure to approximate the Russell 3000 Index using custom categories.