Fund Description

The fund invests mainly in common stocks of U.S. companies, focusing on value stocks that offer the potential for capital growth, current income, or both. Under normal circumstances, it invests at least 80% of net assets in large-cap companies of a size similar to those in the Russell 1000 Value Index, a policy that may be changed only after 60 days' notice to shareholders. It may also invest in midsize companies. Value stocks are issued by companies that the Investment Manager believes are undervalued by the market. The Investment Manager may consider factors such as a company's valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows, and dividends when deciding whether to buy or sell investments.