The investment seeks to maximize long-term capital appreciation.
The fund invests at least 80% of its assets in the common stock of mid-capitalization companies traded in the U.S. The Investment Adviser considers a mid-capitalization company as one with market capitalization, at the time of purchase, within the range of companies included in the Russell Midcap® Index. The fund will normally invest in approximately 75 to 150 companies. Although the fund does not expect to maintain significant positions in such securities on a normal basis, it may invest up to 25% of its assets in foreign securities.