Fund Description

The adviser pursues the fund's investment objective by investing, under normal circumstances, in a portfolio of small- and mid-capitalization growth-oriented companies. The fund typically invests in equity securities of U.S. companies, but may invest any portion of assets in foreign securities, including ADRs and GDRs. It principally invests in companies with market capitalizations at purchase below $8 billion or 120% of the market capitalization of the largest company included in the Russell 2500 Index, whichever is greater, and may hold positions that later fall outside these limits. The adviser uses fundamental analysis and quantitative screening, may focus in sectors such as health care, industrials, and information technology, and turnover may exceed 100%.