Fund Description

The fund is actively managed and typically allocates 60%-70% of assets to common stocks of established large companies, primarily dividend-paying and, to a lesser extent, non-dividend-paying. The advisor seeks durable businesses that appear undervalued but have prospects for improvement, commonly referred to as value stocks. The remaining 30%-40% is generally invested mainly in fixed income securities intended to generate a moderate level of current income, including investment-grade corporate bonds, with some exposure to U.S. Treasury bonds, government agency bonds, and mortgage-backed securities.