Fund Description

The fund invests at least 80% of its net assets, including any borrowings for investment purposes, in equity securities of large-cap issuers within the market-cap range of companies in the Russell 1000 Value Index at the time of purchase. It invests substantially in securities of U.S. issuers and in value companies viewed by the investment manager as undervalued historically, by the market, or relative to similar industries or sectors. It may emphasize one or more sectors, including financials. Consistent with its value approach, it may hold a small number of securities; generally, the fund anticipates holding between 30 and 40 securities, but it may hold more or fewer at any time.