Fund Description

The fund invests at least 80% of its net assets plus borrowings in equity securities of dividend-paying companies organized or headquartered in the United States, including common and preferred stock, rights, and warrants. It may also invest in ETFs and ADRs, and may lend portfolio securities to earn additional income. Using a bottom-up approach, the adviser seeks companies believed to be undervalued based on earnings, dividends, assets, or other measures, generally focusing on large-cap companies. Selection is driven by quantitative analysis of dividend yield, earnings, cash flows, competitive position, and management ability, assessing valuation, momentum, and earnings quality, while also considering broader market and regulatory conditions; sector exposure may be significant at times.