The investment seeks long-term capital growth; current income is a secondary objective.
The fund, under normal market conditions, invests in stocks and other securities that the subadviser believes are undervalued. It generally will invest in mid-cap to large-cap companies, although the fund may invest in companies of any size. The subadviser seeks to invest in a majority of companies that will pay dividends. The fund's managers consider a company to be a mid-cap company if its capitalization is within the range of the market capitalization of the companies in the Russell MidCap Index.