Fund Description

The fund invests primarily in small-cap companies, normally allocating at least 80% of net assets (plus borrowings for investment purposes) to equity securities, typically common stock, of companies with market capitalizations at purchase below the larger of $3 billion or the largest company in the Russell 2000 Index as of its reconstitution date. It may invest up to 20% of total assets at purchase in securities of foreign companies. Using bottom-up fundamental analysis, it targets temporarily undervalued companies across Undiscovered Gems, Fallen Angels, and Quality Value, and may also buy growth companies at discounted valuations. The fund's secondary objective of income is achieved when portfolio companies pay dividends. Sector exposure may be concentrated.