Description

This fund primarily seeks to achieve its investment goals by acquiring common shares of smaller companies whose stock valuations its management team believes are below their intrinsic worth. Typically, at least 80% of its total net assets, including any funds borrowed for investment, are committed to equity securities of these small firms. For this fund's purposes, a "small company" is defined as one whose market capitalization, at the time of initial purchase, falls below the preceding 12-month average of the highest market capitalization found among companies within the Russell 2000® Value Index. Additionally, up to one-fifth (20%) of the fund's net assets may be held in cash or other highly liquid instruments.