Fund Description

The fund invests at least 25% of assets in equity securities and at least 25% in senior debt securities, allocating across a diversified mix of debt and equity, including securities of other investment companies. For equities, the manager uses fundamental analysis and proprietary models to seek undervalued companies of any size based on ratios such as price-to-book, price-to-earnings, and price-to-sales, and looks for positive catalysts that may accelerate earnings or improve asset value. ESG factors may be considered alongside other factors. The debt sleeve seeks current income and stability, investing in bonds of any maturity, primarily investment-grade, with up to 20% in below-investment-grade. The fund may invest up to 35% in foreign securities, up to 50% in mortgage-backed securities, trade actively, and use derivatives to a limited extent.