Strategy. In pursuing its investment objectives, the Fund seeks to invest at least 80% of the value of its net assets (which include borrowings for investment purposes) in equity securities such as common stocks, warrants and rights of issuers that are organized in the United States and the securities of which are principally traded on a major U.S. exchange. The Fund employs a strategy of taking long and short positions in equity securities publicly traded in the United States. The Fund buys securities long that Allspring Global Investments, LLC (Allspring or the Sub-Advisor), the Funds sub-advisor, believes will outperform the equity market, and sells securities short that the Sub-Advisor believes will underperform the equity market. The Funds long-short exposure will vary … Show more… In pursuing its investment objectives, the Fund seeks to invest at least 80% of the value of its net assets (which include borrowings for investment purposes) in equity securities such as common stocks, warrants and rights of issuers that are organized in the United States and the securities of which are principally traded on a major U.S. exchange. The Fund employs a strategy of taking long and short positions in equity securities publicly traded in the United States. The Fund buys securities long that Allspring Global Investments, LLC (Allspring or the Sub-Advisor), the Funds sub-advisor, believes will outperform the equity market, and sells securities short that the Sub-Advisor believes will underperform the equity market. The Funds long-short exposure will vary over time based on the Sub-Advisors assessments of market conditions and other factors. The Fund may invest in equity securities of issuers of any market capitalization. The Sub-Advisor anticipates that, in general, the net long exposure of the Fund will not exceed 100% and the Fund will not have a net short exposure. The Funds investment strategy involves active and frequent trading. The Funds strategy seeks to provide favorable performance while seeking to reduce certain risks relative to a portfolio comprised of only long positions in the same or substantially similar securities, but there can be no guarantee that its strategy will be successful in this regard. The Fund may also invest from time to time in futures, swaps and options contracts on securities, and securities indices. The Fund may also enter into options on futures contracts. The Fund may purchase or write options in combination with each other (i.e., simultaneously writing call options and purchasing put options) to seek to adjust the risk and return of its overall investment positions. The Fund may employ the types of derivatives referenced above in order to obtain short or long exposures to securities. The Fund will not count its derivatives positions, including futures, swaps and option positions, for purposes of determining whether it holds at least 80% of the value of its net assets (including investment-related borrowings) in equity securities. The Fund may invest in exchange-traded funds (ETFs) designed to track U.S. equity securities indices to manage the Funds cash holdings and gain exposure to the types of securities in which the Fund primarily invests. The Fund will count its ETF positions for purposes of determining whether it holds at least 80% of the value of its net assets (including investment-related borrowings) in equity securities of U.S. issuers. Show less