Fund Description

The fund invests at least 80% of total assets in equity securities and up to 25% in equity securities of foreign issuers through ADRs and similar investments. It targets companies believed to offer robust, sustainable revenue and earnings growth across any market capitalization, emphasizing competitive advantage, effective management, and innovation-driven disruption. Research focuses on mispricing identified through intensive fundamental analysis and review of management capital allocation. Price objectives use industry-specific metrics including P/E, price-to-book, margin trends, EV/EBITDA, and free cash flow yield, with holdings monitored continuously. Sector exposure may vary and may emphasize certain sectors. Holdings may be sold if growth prospects weaken, a target is reached, or better opportunities arise.