Fund Description

The fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in equity securities of small-cap companies, defined as those with market capitalizations within the universe of the Russell 2000 Value Index at the time of purchase. Using a value-oriented approach, it invests primarily in common stocks and real estate investment trusts (REITs). It may use derivatives, including futures, to gain or reduce index exposure, manage cash flows, maintain liquidity, and minimize transaction costs. The adviser ranks stocks with a proprietary system, refines rankings with fundamental research, and uses them to build portfolios while assessing ESG factors for potential financial materiality and engagement. Stocks are typically bought when top-ranked in their sector and considered for sale when rankings fall, become unattractive, or no longer qualify as small cap; risk exposures are managed via portfolio constraints.