Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The equity securities in which the Fund primarily invests include common stocks. The Fund focuses its investments in dividend paying equity securities issued by larger-capitalization (larger cap) companies. The Fund generally considers a company to be a larger cap company if it has a market capitalization, at the time of purchase, over $5 billion. The Adviser begins with a screen of approximately 1,000 larger cap companies. Through a combination of quantitative and qualitative analyses, the Adviser further reduces the larger cap universe to approximately 250 companies, which it believes have stable and predictable growth in earnings, revenues, … Show more… Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The equity securities in which the Fund primarily invests include common stocks. The Fund focuses its investments in dividend paying equity securities issued by larger-capitalization (larger cap) companies. The Fund generally considers a company to be a larger cap company if it has a market capitalization, at the time of purchase, over $5 billion. The Adviser begins with a screen of approximately 1,000 larger cap companies. Through a combination of quantitative and qualitative analyses, the Adviser further reduces the larger cap universe to approximately 250 companies, which it believes have stable and predictable growth in earnings, revenues, and dividends. It is at this point that the Adviser utilizes a conservative, bottom-up approach, constructing and applying a dividend discount model to each of these approximately 250 companies to identify companies with reasonable valuations for the Funds investment portfolio. As an important component of its investment strategy, the Adviser also meets regularly with management of its portfolio and perspective portfolio companies, as well as their competitors, customers, and suppliers. The Funds portfolio is generally comprised of approximately 25 to 30 equity securities that meet the Advisers stability, dividend and cash flow growth criteria, and with respect to which the Adviser has established comfort with the long-term qualitative aspects of the investment. From time to time, the Fund may focus its investments in securities of companies in the same economic sector, including the health care sector. In addition to investing in equity securities issued by larger cap companies, the Fund, in order to reduce cash balances and increase the Funds exposure to larger cap companies, may invest in other investment companies, including ETFs, to the extent permitted by the 1940 Act. The Fund may also invest up to 20% of its total assets in foreign securities, including American Depositary Receipts (ADRs). Temporary Strategies; Cash or Similar Investments . At the Advisers discretion, the Funds may invest in high-quality, short-term debt securities and money market instruments for (i) temporary defensive purposes in response to adverse market, economic, or political conditions and (ii) retaining flexibility in meeting redemptions, paying expenses, and identifying and assessing investment opportunities. These short-term debt securities and money market instruments include cash, shares of other mutual funds, commercial paper, certificates of deposit, bankers acceptances, U.S. government securities, and repurchase agreements. To the extent that the Fund invests in money market mutual funds for their cash position, there will be some duplication of expenses because the Fund will bear its pro rata portion of such money market funds management fees and operational expenses. When investing for temporary defensive purposes, the Adviser may invest up to 100% of the Funds total assets in such instruments. Taking a temporary defensive position may result in the Fund not achieving their investment objective. Show less