The investment seeks long-term growth of capital and income. The fund normally invests at least 80% of assets in common stocks of U.S. and foreign companies with large market capitalizations that the management believes have below-average valuations in light of their improving business fundamentals. It generally purchases stocks of large capitalization companies with market capitalizations in excess of the median market capitalization of companies in the Russell 1000 Value index. The portfolio typically owns approximately 40 stocks. It is nondiversified.
