Fund Description

The fund seeks long-term capital appreciation by investing, under normal circumstances, at least 80% of net assets in equity securities of large-capitalization companies, generally those with market capitalizations within the range of companies in the Russell 1000 Value Index. It uses a quantitatively managed strategy to provide exposure to value and quality factors, applying proprietary value and quality screens to identify out-of-favor, undervalued securities and eliminate the lowest-quality names, then selecting holdings to meet capitalization and diversification goals. Risk is managed across security, sector, region and portfolio levels. It may use stock index futures to equitize cash and enhance liquidity, and may at times have focused sector exposure.