Strategy. The Fund invests, under normal market conditions, at least 80% of its investable assets in equity and equity-related securities. The term investable assets refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund follows a value investment style to select equities of approximately 25 to 40 issuers. The Fund seeks to achieve its investment objective by investing, under normal circumstances, in companies that it believes are undervalued compared to their perceived worth (value companies). The Fund may invest in companies of any market capitalization. Under normal market conditions, … Show more… The Fund invests, under normal market conditions, at least 80% of its investable assets in equity and equity-related securities. The term investable assets refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund follows a value investment style to select equities of approximately 25 to 40 issuers. The Fund seeks to achieve its investment objective by investing, under normal circumstances, in companies that it believes are undervalued compared to their perceived worth (value companies). The Fund may invest in companies of any market capitalization. Under normal market conditions, the Fund is expected to invest predominantly in large capitalization companies, which are companies with market capitalizations (measured at the time of purchase) of $1 billion or more. The subadviser will actively manage the Fund and will seek to invest in companies that it believes will provide investment returns above those of the Russell 1000 Value Index. The subadviser uses a research-based, bottom-up stock selection focused primarily on large capitalization companies which, in its view, exhibit indications of underlying intrinsic value. The subadviser performs in-depth, fundamental research on prospective investments. Generally, the subadviser seeks companies that have one or more of the following characteristics attractive valuation metrics that are unique to that business, high levels of durability and viability of the business, good business models that are being mispriced, high returns on assets and/or equity, high free cash flow yields, management teams that are willing to make changes, and/or something wrong in the fundamentals that can be fixed or is temporary. In addition to common stocks, nonconvertible preferred stocks and convertible securities, equity-related securities in which the Fund invests include American Depositary Receipts (ADRs); warrants and rights that can be exercised to obtain stock or other eligible investments; investments in various types of business ventures, including partnerships and joint ventures; securities of real estate investment trusts (REITs) and similar securities. Convertible securities are securitieslike bonds, corporate notes and preferred stocksthat the subadviser can convert into the companys common stock, the cash value of common stock or some other equity security. The Fund may invest up to 35% of its investable assets in foreign securities. At times, the Fund may have a significant portion of its assets invested in the same economic sector. Show less