The investment seeks to maximize long-term capital appreciation.
The fund invests at least 80% of its assets in the common stock of small- and mid-capitalization companies traded in the U.S. It will invest in approximately 100 to 150 companies. The Investment Adviser defines small- and mid-cap companies as companies that are members of, or fall within, the capitalization range inclusive of the Russell 2000® Index. 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.