The fund seeks capital appreciation in the long term by investing in mid-size companies in the United States.
The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.
Next, the research team invests in securities of U.S. issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.
The team prefers attractively-valued companies experiencing a change.
In selecting securities for the portfolio, the team looks for catalysts for change that may positively impact a company, such as improved operational efficiency, new management, an industry development or regulatory change.
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.
The fund may invest up to 20% of its net assets in real estate investment trusts.
Also, the fund may invest up to 20% of its net assets in securities of foreign issuers and depositary receipts.