Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies with market capitalizations within or below the range of companies in the Russell 2000 Index, and may occasionally buy companies above that range; derivatives providing relevant exposure may count toward this policy. It targets stocks whose prices do not appear to reflect underlying value based on assets, earnings, cash flow, or business franchises, emphasizing factors such as low valuation ratios, asset value, dividend yield, restructuring plans, and balance sheet strength. It may concentrate in a sector. It typically holds U.S. common stocks, including REITs, but may invest in foreign stocks, privately held companies, and recent IPOs.