Fund Description

The fund invests primarily in a diversified portfolio of equity securities of issuers with relatively smaller capitalizations as compared to the overall U.S. market. Under normal circumstances, the fund invests at least 80% of its net assets in equity securities of smaller companies, defined at purchase as those in the lowest 20% of total U.S. equity market capitalization (excluding companies under $10 million). It may invest in any industry and equity type for capital appreciation, including established and less-seasoned companies, and may invest in foreign securities. The Adviser uses fundamental and quantitative analysis and may invest in preferred stocks, ETFs, rights or warrants, and derivatives such as options, futures, forwards, and swaps.