Fund Description

The fund invests primarily in equity securities of smaller companies that its subadvisers believe offer potential for long-term growth. Under normal circumstances, it invests at least 80% of net assets (plus borrowings for investment purposes) in equity securities of companies whose market capitalizations at purchase are within the range of companies in the Russell 2000 Index or S&P SmallCap 600 Index. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, rights, and warrants. It may invest up to 20% of total assets in foreign securities, including emerging markets, may have significant exposure to one or more industries or sectors, and may hold cash or cash equivalents. Wellington Management and Invesco Advisers each manage a portion using growth-based approaches.