Strategy. The Fund seeks to achieve its investment objectives by investing primarily in a diversified portfolio of common stocks, which Fund management believes offers the potential for increased earnings and dividends over time. Normally, such equity securities will represent 60% or more of the Funds net assets. However, the overall asset allocation is set by Fund managements determination of the most attractive risk adjusted return opportunities available in both equity and fixed income securities. The equity investment approach of Bridges Investment Management, Inc. (BIM or the Adviser) emphasizes owning companies in the Fund which it believes offer the best potential for above-average, long-term capital appreciation. The Advisers equity investment process focuses on identifying companies which have accelerating revenues, earnings growth, strong … Show more… The Fund seeks to achieve its investment objectives by investing primarily in a diversified portfolio of common stocks, which Fund management believes offers the potential for increased earnings and dividends over time. Normally, such equity securities will represent 60% or more of the Funds net assets. However, the overall asset allocation is set by Fund managements determination of the most attractive risk adjusted return opportunities available in both equity and fixed income securities. The equity investment approach of Bridges Investment Management, Inc. (BIM or the Adviser) emphasizes owning companies in the Fund which it believes offer the best potential for above-average, long-term capital appreciation. The Advisers equity investment process focuses on identifying companies which have accelerating revenues, earnings growth, strong dividend growth potential, free cash flow growth, expanding margins and strong balance sheets. Market capitalization or company size is a result of this investment approach rather than an active investment consideration. Historically, the Fund has primarily owned securities in larger companies, although at any time, the Fund may own securities in small, medium, or large size companies. The Fund may also invest in common stocks which the Adviser believes may be cyclically depressed or undervalued, and therefore, may offer potential for capital appreciation. In pursuing these principal investment objectives, the Fund may invest up to 15% of its total assets in U.S. dollar-denominated securities of foreign issuers traded on U.S. exchanges, and up to 20% of its total assets in American Depositary Receipts (ADRs) traded on U.S. exchanges or in the U.S. over-the-counter market. In addition, to generate current income, as part of its principal strategy the Fund may acquire investment grade corporate bonds, debentures, U.S. Treasury bonds and notes, and preferred stocks. Historically, such fixed income securities have not constituted more than 40% of the market value of the Funds portfolio. Two considerations drive the Advisers maturity strategy with respect to fixed income securities. First, the Adviser will generally manage the weighted average life of the Funds fixed income portfolio given its perception of where value lies at any point in time on the yield curve. Second, the Adviser will manage the weighted average life of the Funds fixed income portfolio based on its intermediate to longer-term outlook for interest rates at any point in time. The allocation of Fund investments among common stocks and other equity securities and bonds and other debt securities (including U.S. Treasury securities) is based on the Advisers judgments about the potential returns and risks of each class. The Adviser considers a number of factors when making these allocations, including economic conditions and monetary factors, inflation and interest levels and trends, and fundamental factors (such as price/earnings ratios or growth rates) of individual companies in which the Fund invests. Show less