Fund Description

The fund seeks to achieve its objective by investing primarily in the common stock of small U.S. companies, using a small-cap growth approach that selects most holdings from companies listed in the Russell 2000 Growth Index. Investments may include equity securities of domestic issuers and REITs, and sector exposure approximates the Russell 2000 Growth Index, which may result in larger allocations at times to sectors such as healthcare, technology, and industrials. The strategy uses a quantitative model with fundamental and technical variables, diversification constraints, and consideration of trading costs. At least 80% of its net assets (plus any borrowing for investment purposes) are invested in investments in small companies. The fund actively trades its portfolio securities, which will cause increased portfolio turnover and trading costs and will likely result in more short-term capital gains or losses.