Description

The fund's primary objective is to achieve substantial capital appreciation over the long term. Under typical market conditions, it commits a minimum of 80% of its total net assets (potentially including capital obtained through borrowing) to common stocks issued by companies categorized as mid-capitalization. The fund manager defines a mid-cap company as one that, at the time of investment, holds a market valuation (its worth on the stock market) between $1 billion and the valuation of the largest firm listed in the Russell Midcap® Index.