Strategy. The Fund invests, under normal circumstances, at least 80% of its assets in a diversified portfolio of domestic equity securities of small and mid cap companies. Equity securities include common stock and any rights to purchase common stock. Assets means net assets, plus the amount of borrowing for investment purposes. Shareholders will be given 60 days advance notice of any change to this policy. For these purposes, the Adviser defines small and mid cap issuers as those with market capitalizations within the range encompassed by the Russell 2500 TM Index at the time of purchase. The size of companies in the Russell 2500 TM Index may change with market conditions. In addition, changes to the composition of the Russell 2500 … Show more… The Fund invests, under normal circumstances, at least 80% of its assets in a diversified portfolio of domestic equity securities of small and mid cap companies. Equity securities include common stock and any rights to purchase common stock. Assets means net assets, plus the amount of borrowing for investment purposes. Shareholders will be given 60 days advance notice of any change to this policy. For these purposes, the Adviser defines small and mid cap issuers as those with market capitalizations within the range encompassed by the Russell 2500 TM Index at the time of purchase. The size of companies in the Russell 2500 TM Index may change with market conditions. In addition, changes to the composition of the Russell 2500 TM Index can change the market capitalization range of the companies included in the index. As of December 31, 2024, the market capitalization range of the Russell 2500 TM Index was between $8 million and $33 billion. However, the Fund generally excludes securities with market capitalizations less than $500 million at time of purchase. ESG Integration: As part of the investment decision-making process for the Fund, the Adviser evaluates how financially material environmental, social, and governance (ESG) risks and opportunities may affect a companys revenues, expenses, assets, liabilities, and overall risk. The consideration of ESG risks and opportunities in investment decision-making is referred to as ESG integration. The Adviser considers financial materiality as it is understood in Generally Accepted Accounting Principles information that would influence the judgment of an informed investor. The integration of ESG risks and opportunities is often a subjective exercise and may differ depending upon the characteristics of the asset class. The Adviser focuses active ownership efforts in three areas: climate risk, equality, and governance, seeking to ensure companies held across investment strategies are appropriately Show less