Fund Description

The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in mid-sized growth companies, defined at purchase as those with market capitalizations between the smallest and largest constituents of the Russell Midcap Growth Index. It may invest up to 20% in smaller- and larger-cap companies and is not required to sell holdings that move outside the index's size range. The fund invests mainly in domestic stocks and, to a lesser extent, foreign securities, including direct purchases on foreign markets. The adviser analyzes financial statements, sustainable strategic advantage, and management, and seeks companies with sustainable business practices; it may sell if fundamentals deteriorate, appreciation potential is limited, or sustainable expectations are no longer met.