Fund Description

The fund, advised by EULAV Asset Management, invests at least 80% of its assets in stocks of U.S. small-market-cap companies, with the policy changeable without shareholder approval upon at least 60 days' prior written notice; it may also invest a portion in U.S. mid-market-cap stocks. "U.S. companies" are those doing business in or organized in the U.S., or whose shares trade in U.S. markets. Small cap is defined as below the largest company in the Russell 2000 Index or $12 billion, whichever is greater. It is actively managed, using Value Line ranking systems to assist stock selection, with broad discretion on holdings, trading, and rebalancing.