Description

Under typical market conditions, this fund commits a minimum of 80% of its net assets—a figure that may include capital acquired through borrowing for investment purposes—to the common shares of companies characterized by medium market capitalizations. Specifically, the fund defines a mid-capitalization company as one whose market value falls within the current range represented by the Russell Midcap® Index at the time of purchase. It is worth noting that the specific market capitalization parameters of the Russell Midcap Value Index are not fixed but rather evolve with changing market conditions. The portfolio is generally expected to maintain a concentrated holding of approximately 60 to 80 securities.