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

The investment process is designed to highlight companies in the benchmark index with attractive valuations.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The team utilizes fundamental analysis to focus on companies offering high free cash flow yields, rate of return with no risk of loss, having prudent capital allocation policies, superior competitive positions, and balance sheet strength.

Also, the team considers a company’s liquidity, leverage, tangible assets, returns on invested equity and capital and the production of essential services and products.

The research team also assesses how the management team performs under unexpected pressure and is it engaging in stressed industries having reasonable prospects for recovery.

In addition, the team emphasizes companies that are experiencing special situations such as stock appreciation as a result of company-specific developments rather than general business conditions or movements of the market as a whole.

Then the manager constructs a focused portfolio of equity and fixed income securities, and may shift frequently among asset classes and market sectors.

The fund may maintain a significant portion of its net assets in cash and securities generally considered to be cash equivalents.