Description

This portfolio generally invests a minimum of 80% of its net assets (which may include capital obtained through borrowing for investment purposes) into equity holdings of large-capitalization enterprises deemed undervalued by the fund's manager. A large-cap company is defined, at the time of investment, by a market capitalization that is either (i) greater than the prevailing median market capitalization of companies within the Russell 1000® Value Index, or (ii) exceeds the three-year average of the median market capitalization of companies in that index, calculated as of December 31 for each of the three prior years.