Description

The fund seeks to achieve its investment objective by primarily acquiring common stock in smaller companies that its portfolio managers believe are undervalued. Ordinarily, at least 80% of its net assets, including any funds borrowed for investment, are dedicated to equity securities of these small businesses. A "small company" for this purpose is characterized by a market capitalization, at the moment of initial purchase, that falls below the 12-month average of the maximum market capitalizations observed among companies within the Russell 2000® Value Index. Additionally, up to one-fifth of the fund's net assets may be allocated to cash or other highly liquid investments.