Strategy. Under normal market conditions, the Adviser seeks to achieve the Funds investment objective by investing primarily in U.S. and non-U.S. companies. The Adviser utilizes both a top-down and a bottom-up stock selection process, seeking investments in companies with attractive valuations, above-average appreciation potential and competitive dividend yields. In selecting securities for investment, the Adviser typically uses a combination of quantitative models and fundamental research. The Adviser primarily uses a sector-neutral factor model that is broadly grouped into the following four categories: momentum/risk, valuation, quality and growth to help identify market drivers. The Adviser then couples the models output with in-depth analysis of individual stocks based on internal and external research. The Fund seeks to optimize factor tilts (e.g., growth vs. … Show more… Under normal market conditions, the Adviser seeks to achieve the Funds investment objective by investing primarily in U.S. and non-U.S. companies. The Adviser utilizes both a top-down and a bottom-up stock selection process, seeking investments in companies with attractive valuations, above-average appreciation potential and competitive dividend yields. In selecting securities for investment, the Adviser typically uses a combination of quantitative models and fundamental research. The Adviser primarily uses a sector-neutral factor model that is broadly grouped into the following four categories: momentum/risk, valuation, quality and growth to help identify market drivers. The Adviser then couples the models output with in-depth analysis of individual stocks based on internal and external research. The Fund seeks to optimize factor tilts (e.g., growth vs. value, large cap vs. small cap) using factor models that the Adviser believes are driving the market, and identifies stocks that will achieve the desired factor tilts using quantitative models. The Adviser may integrate a non-binding sustainability analysis as a part of its bottom up stock selection component of the investment process. Sustainability analysis is inclusive of environmental; social and human capital; and business model, innovation, leadership and governance (ESG) issues. The Adviser gives particular credence to those ESG issues deemed to be material to a given industry, shown to potentially impact a companys long term stock price performance. The Funds equity investments may include common and preferred stocks and equity-linked securities, rights and warrants to purchase common stocks, depositary receipts, exchange-traded funds (ETFs) (including those which may be managed by the Adviser or its affiliates), limited partnership interests and other specialty securities having equity features. Show less