Fund Description

The fund normally invests at least 80% of net assets in equity securities of large-capitalization companies, defined as those within the market-cap range of the Russell 1000 Value Index at purchase. Managers seek well-managed companies with undervalued stock prices and catalysts to improve earnings from depressed levels, such as management changes, restructurings, or new products, services, or markets. The fund may also invest in foreign stocks and REITs, diversifies across companies and industries, and may emphasize sectors viewed as undervalued. Options may be used, including covered calls. It may have elevated turnover.