The fund seeks capital appreciation in the long term by investing in 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 takes long positions in securities that are estimated to trade below their fair values and short positions in securities that are overvalued.
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 in securities of companies that are offered pursuant to an initial public offering.
Additionally, the fund may invest up to 30% of its net assets in securities of foreign issuers.
The fund may also invest up to 15% of its net assets in Master Limited Partnerships, and up to 30% of the fund’s net assets in equity Real Estate Investment Trusts.
Also, the fund may hold up to 100% of its net assets in cash or cash equivalents, such as U.S. Government obligations, investment grade debt securities and other money market instruments, for temporary defensive purposes due to economic or market conditions.
