Fund Description

The fund invests at least 80% of net assets (plus borrowings for investment purposes) in investments tied to large-cap growth companies-those within the market-cap range of the Russell 1000 Growth Index and expected to generate capital appreciation. Under normal circumstances it holds equity securities such as common and preferred stock, warrants, and convertible securities, and it is non-diversified, so it may invest a significant portion of assets in a single issuer. The sub-adviser combines quantitative screens and fundamental analysis, considering ESG factors among many inputs. It may use futures and index futures to maintain equity exposure on cash balances, invest up to 25% in foreign securities, and hold REITs, ETFs, other investment companies, and lend securities up to 33 1/3% of total assets.