Fund Description

The fund invests primarily in stocks of U.S. companies believed to be undervalued, normally committing at least 80% of net assets (plus any investment borrowings) to equity securities of large-cap companies within the Russell 1000 Value Index market-cap range at purchase. It seeks income primarily from dividend-paying stocks and may at times emphasize certain sectors, such as financials. It may also invest to a lesser extent in convertible securities, IPOs, and smaller-cap stocks, and may invest up to 20% of total assets in non-U.S. securities, including ADRs and non-U.S. issuers listed in the U.S.