Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small market capitalization U.S. companies that the Fund considers to have value characteristics. The Fund considers small market capitalization companies to be those with market capitalizations within the market capitalization range of the companies in the Russell 2000 Index . As of December 31, 2025 , the Russell 2000 Index consisted of companies with market capitalizations of $ 5.61 million to $ 4.55 ?billion. The Fund considers a company to be a U.S. company if: the company is incorporated in the United States; the companys security is primarily listed for trading in a United … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small market capitalization U.S. companies that the Fund considers to have value characteristics. The Fund considers small market capitalization companies to be those with market capitalizations within the market capitalization range of the companies in the Russell 2000 Index . As of December 31, 2025 , the Russell 2000 Index consisted of companies with market capitalizations of $ 5.61 million to $ 4.55 ?billion. The Fund considers a company to be a U.S. company if: the company is incorporated in the United States; the companys security is primarily listed for trading in a United States market; ? the company is headquartered in the United States; or ? the company has at least half of its assets or derives at least half of its revenues in the United States. The Fund considers a company to have value characteristics if it has one or more of the following characteristics (relative to the Russell 2000 Index): ? below-average price to earnings ratio, ? below-average price to book value ratio, ? below-average price to cash flow ratio, or ? below-average price to sales ratio. ? The Fund may also invest in mid-capitalization and micro-capitalization companies. The Funds investments principally include common stocks and real estate investment trusts (REITs). The Funds investments in stocks also include dividend-paying stocks. The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. Except for Brandywine Global Investment Management, LLC (Brandywine Global), each of the sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The process is research driven and takes into consideration items such as a companys tangible assets, sustainability of its cash flows, capital intensity and financial leverage. Brandywine Global employs a primarily quantitative strategy that focuses on buying stocks deemed to be less expensive based on price to earnings ratio or price to book value ratio and that have positive price momentum. For each sub-advisor, the decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. The Fund may have significant exposure to the ?Financials sector. However, as the sector composition of the Funds portfolio changes over time, the Funds exposure to the Financials sector may be lower at a future date, and the Funds exposure to other market sectors may be higher. The Fund may invest cash balances in other investment companies, including a government money market fund advised by the Manager, with respect to which the Manager also receives a management fee. The Fund may purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions. Show less