Fund Description

The fund seeks long-term capital appreciation using a disciplined, bottom-up fundamental approach to identify equity investments that meet the Adviser's quality and valuation standards. It is non-diversified and may take larger positions in a smaller number of companies. Under normal market conditions, it invests primarily in common stock of small-, mid- and large-cap U.S. companies selected for long-term compounding potential, with sector weights varying over time. To a lesser extent, it may invest in fixed income (including speculative-grade), foreign and emerging market issuers, and other investment companies for cash management; ETF exposure is limited to 5% of total assets. The Adviser considers ESG factors within its analysis and generally avoids companies deemed inconsistent with positive ESG factors, while not automatically excluding any company type. The Adviser generally does not trade frequently and may sell when facts or the original analysis change.