Fund Description

The fund invests at least 80% of net assets plus borrowings in equity securities of U.S. companies with market capitalizations above $4 billion at purchase, and may invest up to 20% in non-U.S. equities. Using a fundamental, bottom-up process, the sub-adviser seeks growth companies with industry growth potential, market share gains, sustainable competitive advantages, a team that can perpetuate the company's competitive advantages, high returns on invested capital, sound governance, and sustainable ESG traits. It screens Russell 1000 and similar firms using financial and ESG data from independent vendors, then assesses them qualitatively and may engage with companies. It may invest in companies whose ESG practices are suboptimal, with the expectation that these practices may improve over time. The fund excludes certain weapons, civilian firearms, tobacco, and thermal coal over 30% of revenues, and may sell when fully valued, prospects or ESG performance deteriorate, or size limits are exceeded.