Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of small-capitalization companies, generally those with market capitalizations under $5 billion at purchase or within the capitalization ranges of the Russell 2000, S&P SmallCap 600, or Dow Jones U.S. Small-Cap Total Stock Market indexes. It may continue to hold securities that later appreciate above the small-cap threshold and, as a result, may fall below the 80% level at times. The fund may also invest in REITs. Using fundamental research and proprietary screening, the subadviser seeks well-managed, undervalued companies with improving fundamental and financial characteristics and seeks to assemble a portfolio diversified as to companies and sectors.