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 both value-priced and aggressive growth stocks.

The team favors companies that have demonstrated above-average growth in revenues and/or earnings, and possess relatively low levels of long-term debt.

In addition, the team prefers companies that have a high percentage of their shares owned by company management.

Also, the team looks for companies with modest valuation multiples such as sales and earnings that are below their long-term annual growth rate.

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.

At times, the fund may invest in companies experiencing special situations such as possessing valuable patents, undergoing restructuring, and involved in large share repurchase programs.

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 companies that are in their earliest stages of public development and may offer unique products, services or technologies or may serve special or rapidly expanding niches.

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 companies that offer significant potential for stock price appreciation.

In addition, the team prefers companies that have a high percentage of their shares owned by company management.

The team favors companies that possess relatively low levels of long-term debt and have demonstrated above-average growth in revenues and/or earnings.

Also, the team looks for companies with reasonable valuation multiples such as sales, earnings, and book value.

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.

At times, the fund invests in companies that are undergoing corporate restructuring, initial public offerings, and that possess undervalued assets.