Fund Description

The fund invests at least 80% of net assets (plus borrowings for investment purposes) in equity securities of large companies similar in size to issuers in the Russell 1000 Growth Index, but is not limited to index constituents. Equity securities include common stocks and other equity instruments such as equity-focused funds, depositary receipts, warrants, rights, REIT equity interests, and preferred stocks. It primarily invests in U.S. issuers, may hold fewer than 40 securities, invest in IPOs, and invest up to 20% in non-U.S. issuers (up to 10% in emerging markets). It may also invest in investment grade and below investment grade debt, including convertibles and defaulted issuers. It may use derivatives for hedging, as a substitute for buying or selling securities, speculative return-seeking, to manage portfolio characteristics, and cash flow management, and may hold cash or short-term investments. The adviser uses a growth style combining quantitative analysis and bottom-up fundamental research focused on capital deployment and return on capital.