The fund seeks primarily current income and secondarily 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 income-producing domestic and foreign securities, including equity securities (primarily common stocks) and fixed income securities of companies.

The research process is driven by fundamental analysis of one stock at a time. In selecting equity securities for the portfolio, the research team focuses on companies with attractive, sustainable dividend yields or the potential for dividend growth.

The team also reviews a company’s financial statements, builds proprietary financial models, visits company facilities, and meets with executive management, suppliers and customers.

However, in selecting fixed-income securities for the portfolio, the team focuses on rates of current income, credit quality of the issuer, and maturity, duration and other characteristics of the obligation.

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 a large percentage of its net assets in a few sectors.

Additionally, the fund may invest its net assets in securities issued by foreign companies in developed countries without limit. To a lesser extent, the fund may invest in foreign companies in emerging and frontier markets.

The fund may invest in investment companies, including exchange-traded funds.