The fund seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process is designed to highlight companies in the benchmark index that are undervalued and trading at a discount to their estimated intrinsic value.

The process focuses on estimating a company’s value independent of its current stock price.

The research process is driven by fundamental analysis of one stock at a time. The research team then analyzes a company’s earnings, revenue growth, operating margins and other economic factors.

Next, the team also considers the level of industry competition, regulatory factors, and the threat of technological obsolescence of companies.

In addition, the team emphasizes companies with sustainable competitive advantages, conservative balance sheets, and management with an ownership mentality.

Then the manager constructs a portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.

The concentrated portfolio holds between 30 and 40 names with a maximum sector exposure of 35%.

The fund is not constrained by the sector or industry weights in the benchmark.

The fund seeks capital appreciation in the long term by investing in companies across any size outside 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 U.S. and non-U.S. securities from any country, including emerging market countries.

The team prefers companies that are estimated to trade below their fair values.

In addition, the fund will invest between 40% and 70% of its net assets in securities issued by companies that are headquartered or have their principal place of business outside the U.S., or whose primary trading markets are outside the U.S. or that have at least 50% of their assets in, or expect to derive at least 50% of their total revenues or profits from, goods or services produced in or sales made in countries outside the U.S.

However, if market conditions are not deemed favorable, the fund may limit its investments outside the U.S. to 30% of its net assets.

The research process is driven by fundamental analysis of one stock at a time. The research team then analyzes a company’s earnings, revenue growth, operating margins and other economic factors.

Next, the team also considers the level of industry competition, regulatory factors, and the threat of technological obsolescence of companies.

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 process focuses on estimating a company’s value independent of its current stock price.

The fund seeks capital appreciation in the long term by investing in large-size companies in the United States.

The investment process is designed to highlight companies that are undervalued and trading at a discount to their estimated intrinsic value.

The research process is driven by fundamental analysis of one stock at a time. The research team then analyzes a company’s earnings, revenue growth, operating margins and other economic factors.

Next, the team focuses on companies with sustainable competitive advantages, conservative balance sheets, and management with an ownership mentality.

In addition, the team also considers the level of industry competition, regulatory factors, and the threat of technological obsolescence of companies.

The fund is not constrained by the sector or industry weights in the benchmark.

The fund seeks capital appreciation in the long term by investing in companies across any size 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 focuses on securities of companies that are estimated to trade below their fair values and selling short overvalued securities.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on a company’s earnings, revenue growth, operating margins and other economic factors.

The team also takes into account the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors.

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 seeks capital appreciation in the long term by investing in mid-size companies in the United States.

The investment process begins with a focus on identifying companies that are trading at a discount to their intrinsic value. Then, the research team identifies companies with sustainable competitive advantages, conservative balance sheets, and management with an ownership mentality.

The team uses bottom-up analysis to focus on factors such as earnings and revenue growth, operating margins and economic factors.

The fund also considers the level of industry competition, regulatory factors, and the threat of technological obsolescence to identify potential investment opportunities.   

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values.

To estimate a company’s value, the team focuses on the fundamental economic drivers of the business.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team takes into consideration earnings, revenue growth, operating margins and other economic factors.

The team also considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors.

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 portfolio typically holds between 50 and 80 positions.

The fund seeks capital appreciation in the long term by investing in small- and mid-size companies in the United States.

The investment process is designed to highlight companies that are lagging in market price or trading at a discount to their estimated intrinsic value.

The research team is using quantitative techniques to identify companies with durable competitive advantages, conservative balance sheets, and management with an ownership mentality.

The team uses individual stock analysis to focus on factors such as earnings and revenue growth, operating margins and economic factors.

The fund also considers the level of industry competition, regulatory outlook, and the threat of technological obsolescence to identify potential investment opportunities.