Fund Description

The fund invests primarily in the common stocks of U.S. companies, with at least 80% of assets in stocks. It may invest across all market sectors and capitalizations, though it has historically focused on large- and mid-cap companies. Using a bottom-up selection process, it may hold significant sector overweights or underweights versus the S&P 500. It may also invest substantial assets in foreign securities through depository receipts or stocks traded on U.S. or foreign exchanges. The advisor, through fundamental research, seeks to identify stocks with attractive growth prospects that are trading at reasonable valuations and may sell a stock if its market price appears to have risen above its fundamental value, if other securities appear to be more favorably priced, if the reasons for which the stock was purchased no longer hold true, or for other reasons.