Strategy. PineStone Asset Management Inc., the Funds sub-adviser (the Sub-Adviser), subject to the oversight of the Adviser, seeks to achieve the Funds investment objective by investing substantially in a portfolio of U.S. equities. The Fund generally expects to focus on issuers with market capitalizations in excess of $1 billion. The Sub-Adviser seeks to invest in what the Sub-Adviser believes are quality companies, i.e., companies that the Sub-Adviser considers to have, among other things, an ability to generate an elevated level of return on invested capital significantly above the cost of capital. Under normal market conditions, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of companies located in … Show more… PineStone Asset Management Inc., the Funds sub-adviser (the Sub-Adviser), subject to the oversight of the Adviser, seeks to achieve the Funds investment objective by investing substantially in a portfolio of U.S. equities. The Fund generally expects to focus on issuers with market capitalizations in excess of $1 billion. The Sub-Adviser seeks to invest in what the Sub-Adviser believes are quality companies, i.e., companies that the Sub-Adviser considers to have, among other things, an ability to generate an elevated level of return on invested capital significantly above the cost of capital. Under normal market conditions, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities of companies located in the United States. For these purposes, a company is considered located in the United States if: (i) the companys securities are principally traded on a U.S. securities exchange or (ii) the company is organized in the United States. Equity securities include common stock, preferred stock, convertible debt securities and depositary receipts. In pursuing the Funds investment objective, the Sub-Adviser employs a bottom-up stock selection approach which results in a portfolio generally ranging from 20 to 45 companies. A bottom-up stock selection approach focuses on the analysis of individual stocks (microeconomic factors) as opposed to the significance of economic cycles and market cycles (macroeconomic factors). The Sub-Adviser looks for quality companies that have growth potential that are believed to be trading at attractive valuations. The portfolio management team expects to take a longer-term investment perspective, generally seeking to hold investments in companies for at least 5 years. In evaluating whether to sell a security, the Sub-Adviser considers, among other factors, whether in its view the company no longer continues to meet the standards described above and/or the Sub-Adviser believes there are more attractive opportunities available for investment by the Fund. The Fund is non-diversified, which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund. Show less