Fund Description

Under normal market conditions, the fund invests at least 80% of the sum of its net assets plus any borrowings for investment purposes in equity securities of companies with market capitalizations at the time of investment comparable to those in the Russell 2000 Value Index or the Standard & Poor's SmallCap 600 Index, and it is not forced to sell if a stock moves outside the range. The sub-adviser seeks under-valued companies with catalysts to unlock value or improve profitability, maintains a long-term view, and may sell or reduce positions if risk/reward, valuations, or catalysts worsen. It invests primarily in U.S. equities, but may invest up to 35% in non-U.S. equities, including up to 10% in emerging markets.