Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of small- and mid-capitalization companies. The Fund primarily invests in common stock and preferred stock of U.S. small- and mid-capitalization companies. The Fund currently defines small- and mid-capitalization companies to be those with market capitalizations at the time of purchase between $250 million and $10 billion or otherwise within the range of capitalizations of companies in the Russell 2500 Growth Index (between $ 119.4 million and $ 18.32 billion as of April 30, 2025 , the date of the latest reconstitution of the Index (implemented by the Index June 27 , 2025 )). This capitalization range … 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 securities of small- and mid-capitalization companies. The Fund primarily invests in common stock and preferred stock of U.S. small- and mid-capitalization companies. The Fund currently defines small- and mid-capitalization companies to be those with market capitalizations at the time of purchase between $250 million and $10 billion or otherwise within the range of capitalizations of companies in the Russell 2500 Growth Index (between $ 119.4 million and $ 18.32 billion as of April 30, 2025 , the date of the latest reconstitution of the Index (implemented by the Index June 27 , 2025 )). This capitalization range will change over time. The Fund may continue to hold securities of a portfolio company that subsequently drops below or appreciates above this threshold. Because of this, the Fund may have less than 80% of its net assets in securities of small- and mid-capitalization companies at any given time. Through its fundamental research and proprietary screening, GW&K Investment Management, LLC, the subadviser to the Fund (GW&K or the Subadviser), seeks to identify quality companies with growth oriented characteristics. GW&K seeks to assemble a portfolio of securities diversified as to companies and sectors. The Subadviser seeks to focus on quality small- and mid-capitalization companies with sound management and long-term sustainable growth. In selecting companies for the Fund, the Subadviser looks for firms with the following key attributes: ? Experienced, tenured, high quality management; ? Business models that deliver consistent long-term growth; ? Leading companies in attractive and defensible niche markets; ? Strong financial characteristics; and ? Appropriate valuation. Show less