Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in small- to mid-cap stocks (the 80% Policy). The portfolio managers generally consider small- to mid-cap companies to be those companies having market capitalizations within the range of companies comprising the Russell 2500 Index. The Fund may also invest in larger companies, U.S. dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including depositary receipts, such as American Depositary Receipts (ADRs), which are either sponsored or unsponsored, that evidence ownership in underlying foreign stocks) and publicly traded real estate investment trusts (REITs). The Fund may invest in exchange traded funds (ETFs), a type of pooled … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in small- to mid-cap stocks (the 80% Policy). The portfolio managers generally consider small- to mid-cap companies to be those companies having market capitalizations within the range of companies comprising the Russell 2500 Index. The Fund may also invest in larger companies, U.S. dollar-denominated securities of foreign companies that trade on U.S. exchanges or in the over-the-counter market (including depositary receipts, such as American Depositary Receipts (ADRs), which are either sponsored or unsponsored, that evidence ownership in underlying foreign stocks) and publicly traded real estate investment trusts (REITs). The Fund may invest in exchange traded funds (ETFs), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors. The Fund may also lend its securities. Through investment in high quality companies, the portfolio management team seeks to build a portfolio that may participate in rising markets while minimizing participation in declining markets. Quality is determined by analysis of a companys financial statements and is measured by a companys demonstrated ability to consistently grow earnings over the long-term. The portfolio managers believe high quality companies typically have strong balance sheets, sustainable cash flow, enduring competitive advantages, long product cycles, and stable demand over a business cycle, among other characteristics. The portfolio managers also may utilize financial quality rankings provided by nationally recognized rating services when determining quality. The portfolio managers are responsible for fundamental analysis and security selection. They typically seek to purchase stocks of companies they believe are capable of sustaining consistent earnings and operating cash flow growth while maintaining a strong financial condition. Portfolio managers tend to favor companies with shareholder-oriented management teams and business models that may provide consistent demand over a business cycle along with high barriers to entry. Investments are determined based primarily on fundamental analysis of a companys financial trends, products and services and other factors including portfolio managers assessment of company management. The portfolio managers seek to manage portfolio risk by constructing a diversified portfolio of what they believe to be attractively valued companies. The portfolio managers may sell a security when its fundamentals deteriorate or when it is no longer attractively valued, or when other securities are identified to displace a current holding. Show less