Fund Description

The fund invests, under normal conditions, at least 80% of its net assets (including borrowings for investment purposes) in common stocks of small-capitalization U.S. companies, based on having a market capitalization within the range represented in the Russell 2000 Index, the S&P SmallCap 600 Index, or the Dow Jones U.S. Small Cap Total Stock Market Index at the time of purchase. The sub-adviser seeks financially stable small caps it believes generate high returns on unleveraged operating capital, have shareholder-oriented management, and are trading at a discount to their respective market prices. It generally holds about 30 to 40 companies, invests for the long term, emphasizes low turnover and tax sensitivity, and may concentrate in specific sectors.