Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities including common and preferred stocks and convertible securities. Typically, the Fund invests at least 80% of its assets in common stocks issued by large-capitalization (large cap) companies, although it is currently anticipated that the Fund normally will invest at least 95% of its net assets in these companies. The Fund considers a company to be a large cap company if it has a market capitalization, at the time of purchase, within the capitalization range of the S&P 500 Index. The market capitalizations within the index vary, but as of June 30, 2022, they ranged from approximately $3.13 … Show more… Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities including common and preferred stocks and convertible securities. Typically, the Fund invests at least 80% of its assets in common stocks issued by large-capitalization (large cap) companies, although it is currently anticipated that the Fund normally will invest at least 95% of its net assets in these companies. The Fund considers a company to be a large cap company if it has a market capitalization, at the time of purchase, within the capitalization range of the S&P 500 Index. The market capitalizations within the index vary, but as of June 30, 2022, they ranged from approximately $3.13 billion to $2.21 trillion. Although the Fund may from time to time emphasize smaller or larger capitalization companies within the range of the S&P 500 , as a result of the quantitative process discussed below, the Adviser anticipates that generally the Funds weighted average market capitalization will be similar to that of the S&P 500 Index. The Funds investments primarily include common stocks of U.S.-based companies that are listed on a U.S. stock exchange, although the Fund may also invest up to 20% of its total assets in securities denominated in foreign currencies or with non-U.S. headquartered companies that have American Depositary Receipts (ADRs) that trade on a United States exchange. The Fund follows a core strategy in that it is intended not to exhibit a pronounced style bias towards either growth or value. The Advisers proprietary quantitative process may tilt the Fund temporarily towards a particular style, but such tactical shifts are expected to even out over time. The Fund is actively managed using a proprietary quantitative process which projects a stocks performance based upon a variety of factors, such as the stocks growth or value traits, market capitalization, earnings volatility, earnings yield, financial leverage or currency sensitivity. This process tracks the historical performance of each of these factors. The process then measures the relative sensitivity of each of the stocks in the Funds investable universe to the various factors and projects each stocks performance based on this sensitivity. Stocks are selected for purchase or sale through a disciplined analysis intended to maximize the Funds overall projected return while maintaining risk levels (as measured by volatility) similar to that of the S&P 500 Index. From time to time, the Fund may focus its investments in securities of companies in the same economic sector, including the information technology sector. In addition to investing in equity securities issued by large cap companies, the Fund may invest in other investment companies, including exchange-traded funds (ETFs), to the extent permitted by the Investment Company Act of 1940, as amended (the 1940 Act), in order to reduce cash balances in the Fund and increase the level of Fund assets exposed to large cap companies. The Funds investments in equity securities may include investments in real estate investment trusts (REITs). The Adviser determines the size of each position owned by the Fund by analyzing the tradeoffs among a number of factors, including the investment attractiveness of each position, its estimated impact on the risk of the overall portfolio and the expected cost of trading. In attempting to meet its investment objective, the Fund may engage in active and frequent trading of portfolio securities. Show less