Fund Description

The fund seeks to achieve its objective by investing at least 80% of net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies, including common and preferred stocks. A U.S. company is one with at least 50% of revenues or profits from U.S. business activities, at least 50% of assets in the U.S., or a principal U.S. trading market. Using fundamental research, managers focus on large- and mid-cap companies (market capitalizations of $2 billion or more) with low valuations, appropriate capital structures, and/or high quality management. It may concentrate in sectors, invest up to 15% in foreign securities and up to 20% in debt securities, use derivatives, short sell, and invest in REITs and other registered investment companies, including ETFs.