Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in stocks of small capitalized (small cap) companies. The Fund invests primarily in a diversified portfolio of equity securities, including common stocks and other forms of equity investments (e.g., securities convertible into common stocks), of small cap U.S. growth companies that are expected to exhibit quality growth characteristics. The Funds investments in small cap companies may include a significant weighting to micro-cap companies (which, for purposes of the Fund, are companies with market capitalizations of $1 billion or less at the time of the Funds investment). For purposes of the Fund, the Adviser considers a company to … Show more… Under normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in stocks of small capitalized (small cap) companies. The Fund invests primarily in a diversified portfolio of equity securities, including common stocks and other forms of equity investments (e.g., securities convertible into common stocks), of small cap U.S. growth companies that are expected to exhibit quality growth characteristics. The Funds investments in small cap companies may include a significant weighting to micro-cap companies (which, for purposes of the Fund, are companies with market capitalizations of $1 billion or less at the time of the Funds investment). For purposes of the Fund, the Adviser considers a company to be a small cap company if it has a market capitalization no larger than the largest capitalized company included in the Russell 2000 Index at the time of the Funds investment. Securities of companies whose market capitalizations no longer meet this definition after purchase may continue to be held in the Fund. To a limited extent, the Fund may also purchase stocks of companies with business characteristics and growth prospects similar to small cap companies, but that may have market capitalizations above the market capitalization of the largest member of the Russell 2000 Index. The Russell 2000 Index is a widely recognized, unmanaged index of common stocks that measures the performance of the 2,000 smallest companies in the Russell 3000 Index. The companies in the Russell 2000 Index are considered representative of small cap companies. The size of companies in the Russell 2000 Index may change with market conditions. In addition, changes to the composition of the Russell 2000 Index can change the market capitalization range of the companies included in the index. As of March 31, 2025, the Russell 2000 Index included securities issued by companies that ranged in size between $5.2 million and $14.96 billion. The Russell 2000 Growth Index, the Funds performance benchmark, measures the performance of those Russell 2000 companies with a greater-than-average growth orientation. In choosing investments, the Adviser performs fundamental company analysis and focuses on stock selection. The Adviser evaluates the extent to which a company meets the quality growth criteria set forth below. All of the criteria are evaluated relative to the valuation of the security. The weight given to a particular investment criterion will depend upon the circumstances, and Fund holdings may not meet all of the following criteria: (a) the company should be, or should have the expectation of becoming, a significant provider in the primary markets it serves, (b) the company should have some distinctive attribute relative to present or potential competitors (for example, this may take the form of proprietary products or processes, a unique distribution system, an entrenched brand name or an especially strong financial position relative to its competition), (c) the company should participate in an industry expected to grow rapidly due to economic factors or technological change or should grow through market share gains in its industry and (d) the company should have a strong management team. Show less