The fund seeks superior performance 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 follows an investing strategy called Upgrading to identify potential investment opportunities.

Upgrading is based on research indicating that, as economic conditions change, market leadership rotates among companies of different sizes, and among different investment approaches.

The research team ranks thousands of mutual funds by type in order to determine which ones have been performing the best recently.

Then the team narrows the investable universe to funds showing superior performance relative to their peer group and buys those funds that are excelling currently and which reflect the market's continually evolving leadership.

In addition, the investment team focuses only on returns over the past 12 months in determining which funds are the best candidates for ownership. This approach to selecting new funds, coupled with a strong discipline to replace lagging funds, is the key to the Upgrading strategy.

Then the manager constructs a diversified portfolio from a list of companies favored by the research team.

The fund typically invests in underlying funds in the categories such as small- to mid-cap growth, small- to mid-cap value, large-cap growth, large-cap value, and international.

Also, the fund owns a mixture of foreign and domestic investments at any given time, as well as a mixture of funds that invest in both larger and smaller stocks.

In addition, the fund benefits from diversification among various management styles such as growth, and value.