The fund seeks capital appreciation in the long term by investing in mid-and large-size companies in the United States.

The investment process focuses on companies in the benchmark index that are estimated to trade below their fair values, but having attractive growth prospects.

The research team evaluates investments with the mindset of a long-term owner of a business rather than a short-term holder of a stock.

Then the research team reviews a company’s balance sheet, earnings history and future growth potential in selecting securities.

The team also looks at the quality of a business franchise, the competence of a management team, or the structure of an industry.

Generally, the team prefers high-quality companies that have the potential for rapid earnings growth over periods of time.

Then the manager constructs a portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager seeks to concentrate the fund’s assets in a small group of companies.

The fund’s portfolio is invested in securities of U.S. and non-U.S. companies.