Fund Description

The fund uses a disciplined, value-oriented approach to select stocks it believes are undervalued with prospects for continued consistent growth. Using fundamental analysis of financial statements, it generally targets issuers with low price/earnings and price/book ratios, strong balance sheet ratios, and high and/or stable dividend yields. It invests primarily in large, well-recognized companies, and the advisor expects the portfolio to hold at least 20% of the stocks comprising the Standard & Poor's (S&P) 100 Index. Under normal conditions, it invests at least 85% of total assets in equity securities, including common stocks, convertibles, ETFs, rights and warrants, and may emphasize certain market sectors. The portfolio is rebalanced at least annually to align with the advisor's model and monitor for portfolio drift; securities may be sold when no longer offering attractive returns or to pursue better opportunities.