Fund Description

The fund normally invests at least 80% of its net assets in equity securities that have a history of paying dividends, defined as having paid a dividend within the past 12 months. It focuses primarily on large-cap companies and employs a value-oriented investment approach. The adviser???s research team targets dividend-paying companies that appear undervalued and may be temporarily out of favor, but possess good prospects for capital appreciation and dividend growth. Key investment criteria include an established operating history, above-average dividend yield relative to the broader equity market, low price/earnings ratio, sound balance sheets, and low stock prices compared to underlying value. While primarily invested in U.S. common stocks, the fund may also invest in foreign stocks.