Description

This fund primarily seeks to achieve its investment goals by acquiring common shares of smaller companies, specifically those whose stock prices its portfolio managers consider undervalued. Typically, at least 80% of its net assets, including any funds borrowed for investment, are dedicated to equity securities of these small businesses. For this purpose, a "small company" is defined as one whose market capitalization, at the time of its initial purchase, falls below the trailing 12-month average of the highest market capitalization among companies listed in the Russell 2000® Value Index. The fund also has the flexibility to maintain up to 20% of its net assets in cash or highly liquid equivalents.