Fund Description

The fund invests at least 80% of net assets in dividend-income-producing securities. It targets a portfolio dividend yield of two times the S&P 500 dividend yield and seeks capital appreciation over a multi-year horizon primarily through U.S. large-cap stocks, while maintaining low volatility versus the broader U.S. large-cap equity market, with volatility measured by beta, standard deviation, and/or down-market capture as compared to the U.S. large-cap equity market as measured by the Russell 1000 Value Index. It may hold non-U.S. and non-large-cap stocks and strives to minimize drawdowns in significant negative markets. Quantitative screening and proprietary modeling define, narrow, and prioritize candidates for fundamental analysis, and the portfolio is constructed using a team-based approach with limited sector exposures and position sizing consisting of generally 35-55 positions.