Fund Description

The fund invests primarily in common stocks of small-cap U.S. companies that the subadviser believes have favorable business trends or prospects based on fundamental analysis, and under normal circumstances invests at least 80% of net assets (plus borrowings for investment purposes) in small-cap securities. It typically invests most assets in U.S. equities and generally will not invest more than 15% of its total assets in foreign securities, including emerging market securities. It may invest in REITs and other securities consistent with its objective, may at times have significant exposure to one or more industries or sectors, and may hold cash or cash equivalents. The subadviser aims to maintain broad diversification across all major economic sectors and uses a bottom-up approach to portfolio construction.