Fund Description

The fund invests, under normal market conditions, at least 80% of assets in common stocks of large-capitalization growth U.S.-listed companies, typically those that are constituents of the Russell 1000 Growth Index at purchase; this nonfundamental 80% policy may be changed with 60 days' prior written notice to shareholders. Its sub-adviser uses a proprietary quantitative model for security selection, risk management, and periodic rebalancing, evaluating valuation, earnings, financial, market, and management characteristics and using factor-based return forecasts and optimization to target higher expected return for an acceptable level of risk versus the benchmark. The portfolio typically holds up to 120 securities at rebalance, and the fund is non-diversified and may invest a significant percentage of assets in a single company.