The investment seeks long-term capital growth.
The fund establishes long and short positions in equity securities of domestic and foreign companies. It focuses primarily on companies with medium and large market capitalizations, although the fund may establish long and short positions in companies of any market capitalization. The fund will hold long (purchase) securities that the adviser believes will outperform the market, and will sell short securities expected to underperform the market. It intends to maintain a net long exposure (the market value of long positions minus the market value of short positions) of approximately 100%.