The fund seeks capital appreciation by investing in mid-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 above-average to highest-quality businesses that are trading at a discount to their estimated intrinsic value.
The team then evaluates a company based on factors such as competitive position, return on invested capital, ability to redeploy capital, cash flow consistency, financial leverage and management team.
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.
Also, the fund may concentrate its investments in securities of relatively few issuers.
The fund may invest in securities issued by non-U.S. companies, which may be denominated in U.S. dollars or foreign currencies.