Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities, mainly common stocks. It generally targets companies with market capitalizations of $1 billion or more at purchase, but may invest in companies of any size. The adviser focuses on out-of-favor (undervalued) companies based on factors such as earnings, book value, revenues, or cash flow, that show signs of improvement. A quantitative model ranks stocks by value measures and near-term appreciation indicators to guide buys and sells, subject to risk controls and added limits on industry/sector allocations and security weightings versus the Russell 1000 Value Index.