Fund Description

The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes, determined at purchase) in stocks and other equity-like securities of US smaller capitalization companies, defined as the bottom 20% of the total domestic equity market capitalization, with a $10 million minimum. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in stocks and other securities with equity characteristics of US smaller capitalization growth companies; for purposes of the 80% investment policy, growth companies and smaller capitalization companies are companies included in the Russell 2000 Growth Index. It may invest up to 20% in non-US stocks (including emerging markets) and mid- and large-cap stocks. Portfolio management focuses on individual security selection rather than industry selection, and uses an active process that combines financial analysis with company visits. It uses bottom-up research, considers financially material ESG factors, follows a disciplined selling process, and may lend up to one-third of total assets with liquid collateral.