The investment seeks long-term capital appreciation.
The fund invests in equity securities of companies that satisfy the investment criteria. These companies are selected from a universe of companies that have produced long-term records of consistently high returns on shareholder equity. In order to qualify for this universe, each company must have a market capitalization of $1 billion or more, and a return on equity of 15% or greater in each of the last 10 years as determined by the Adviser. Equity securities in which the fund may invest as a principal strategy consist primarily of common stocks of U.S. companies.