Strategy. The Fund will invest, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of small- and mid-capitalization companies. The Fund defines small-mid cap companies as companies whose market capitalizations typically fall within the range of either the Russell Midcap Index or the Russell 2000 Index, which together ranged from approximately $150 million to $58.5 billion as of the last reconstitution of the indexes on December 31, 2024. The Funds 80% policy is not fundamental and can be changed upon 60 days prior notice to shareholders. The Fund employs a multi-manager strategy whereby the Adviser allocates the Funds assets among professional money managers (each, a Sub-adviser, … Show more… The Fund will invest, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of small- and mid-capitalization companies. The Fund defines small-mid cap companies as companies whose market capitalizations typically fall within the range of either the Russell Midcap Index or the Russell 2000 Index, which together ranged from approximately $150 million to $58.5 billion as of the last reconstitution of the indexes on December 31, 2024. The Funds 80% policy is not fundamental and can be changed upon 60 days prior notice to shareholders. The Fund employs a multi-manager strategy whereby the Adviser allocates the Funds assets among professional money managers (each, a Sub-adviser, collectively, the Sub-advisers), each of which is responsible for investing its allocated portion of the Funds assets. The Adviser may also invest a portion of the Funds assets in unaffiliated funds that are registered under the Investment Company Act of 1940, as amended (the 1940 Act), and that have investment objectives and principal investment strategies consistent with those of the Fund, including open-end funds, closed-end funds and exchange traded funds (ETFs), which may be passively managed (i.e., index-tracking) or actively managed. When determining how to allocate the Funds assets between unaffiliated funds and Sub-advisers, and among Sub-advisers, the Adviser considers a variety of factors. The Fund invests primarily in common and preferred stock, rights or warrants to purchase common or preferred stock, securities convertible into common or preferred stock such as convertible preferred stock, bonds or debentures, and other securities with equity characteristics. A Sub-adviser employing an actively managed strategy will select securities based on its assessment of one or more of a variety of factors about the company or the market. The Fund may invest a portion of its assets in securities of micro-cap companies (i.e., companies with market capitalizations of typically less than $1.3 billion). The Fund invests in securities of companies operating in a broad range of industries. Most of these companies are based in the United States, but in some instances, may be headquartered in or doing a substantial portion of their business overseas. Although most assets will typically be invested in U.S. common stocks, the Fund may invest directly in foreign stocks or indirectly through depositary receipts in keeping with the Funds objectives. A Sub-adviser may sell a security for a variety of reasons, including, but not limited to, where the Sub-adviser believes selling the security will help the Fund to secure gains, limit losses, or redeploy assets into more promising opportunities, or the valuation is no longer attractive. Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently. The Fund may also lend portfolio securities in an attempt to earn additional income. Any income realized through securities lending may help Fund performance. Show less