The fund seeks capital appreciation in the long term 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 utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in equity securities (which include common stocks, preferred stocks and securities convertible into common stocks).

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 are trading at a discount to their estimated intrinsic value.

The team focuses on companies undergoing changes that may significantly enhance shareholder value in the future, including changes in operations, management, capital allocation, strategies or product offerings.

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 a substantial portion of its net assets in a small number of issuers, industries or business sectors.

The fund may invest in equity securities of foreign issuers, either directly or indirectly.

Also, the fund may invest in exchange-traded funds.