The fund seeks capital appreciation in the long-term by investing in mid-size companies in the United States.
The sub-advisor T. Rowe Price’s investment process begins with companies in the benchmark index to identify companies with attractive growth profile, proven products or services, and sustainable earnings growth.
The sub-advisor Frontier also looks for companies with attractive and above-average earnings growth but with lagging stock prices.
Frontier looks for businesses that can generate returns on capital in excess of their cost of capital over a business cycle.
Normally the fund invests in mid-size companies but can invest up to 20% of its net assets in stocks outside of that capitalization range. The fund has the flexibility to invest up to 25% of its net assets in foreign companies.