Description

The fund primarily seeks to acquire equity shares of medium-sized corporations that its management team believes are trading below their intrinsic value. A minimum of 80% of the fund's total capital, including any leveraged funds for investment, is allocated to common stocks of companies whose market valuation, at the time of purchase, falls within the range specified by the Russell Midcap® Value Index. Under normal market conditions, the fund also has the discretion to invest up to one-fifth of its net assets in securities of firms with market capitalizations outside these defined parameters.