The fund seeks capital appreciation in the long term by investing in small-and micro-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 12 to 25 unaffiliated open-end mutual funds (underlying funds) which in turn, invest principally in common stocks of small and micro-capitalization 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.

Also, the underlying funds may invest in foreign securities.

In addition, an underlying fund may utilize derivatives such as options and futures contracts as a substitute for investing directly in equity securities.

The fund will generally invest in a mix of value, blend or growth funds.