Strategy. The Adviser pursues the Funds investment objective by investing, under normal circumstances, at least 80% of its assets in equity securities of mid-cap companies. The Fund considers mid-cap companies to be companies with market capitalizations that, at the time of initial purchase, are within the capitalization range of companies comprising the Russell Mid Cap Index. As of September 30, 2024, the Russell Midcap Index included companies with approximate market capitalizations between $344.9 million and $82.8 billion. The size of companies in the index changes with market conditions and the composition of the index. Generally, the Adviser expects the Fund will hold approximately 30 securities. The Adviser uses a bottom-up, fundamental research investment process to identify high quality companies it believes … Show more… The Adviser pursues the Funds investment objective by investing, under normal circumstances, at least 80% of its assets in equity securities of mid-cap companies. The Fund considers mid-cap companies to be companies with market capitalizations that, at the time of initial purchase, are within the capitalization range of companies comprising the Russell Mid Cap Index. As of September 30, 2024, the Russell Midcap Index included companies with approximate market capitalizations between $344.9 million and $82.8 billion. The size of companies in the index changes with market conditions and the composition of the index. Generally, the Adviser expects the Fund will hold approximately 30 securities. The Adviser uses a bottom-up, fundamental research investment process to identify high quality companies it believes have the ability to sustainably grow shareholder equity and that are trading below the Advisers assessment of their intrinsic value. The Adviser believes there is a strong linkage between high-quality companies, good corporate citizenship, and long-term shareholder value creation. The portfolio management team first narrows the Funds investment universe from approximately 800 companies to approximately 200 companies by applying multifactor fundamental screening. It then further analyzes these companies to narrow the potential investments to a watchlist of approximately 50 companies by using quantitative and qualitative criteria to identify significant factors that the Adviser believes will increase the value of the companys securities (e.g., rising cash flows or increasing revenues). To identify and select the final portfolio, the team looks for securities that it believes offer the highest adjusted return, which it calculates by applying its proprietary Quality Assessment and risk measures to each securitys pre-adjusted expected return. The Quality Assessment, which guides the teams decisions on selecting, retaining, and selling investments for the Fund, seeks to identify high-quality companies by analyzing their 1) management, 2) financial strength, 3) industry position and, as a final analytical step, 4) corporate responsibility, which includes the evaluation of environmental, social, and governance issues using proprietary and third-party ratings. The equity securities in which the Fund invests are primarily common stocks. In addition, the Fund may invest in foreign securities, including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The Fund expects that typically 10% or less of the Funds total asset value will be invested in foreign securities, ADRs and GDRs, as determined at the time of investment. From time to time, the Fund may focus its investments in one or more economic sectors. As of the date of this Prospectus, the Fund expects that it will have significant investments in the industrials and information technology sectors. Show less