The investment seeks long-term capital appreciation and current income. The fund invests primarily in a limited number (generally 30 to 60) of equity securities of small companies selected on a value basis. It generally invests in dividend paying common stocks and may also invest, to a limited extent, in preferred stocks and convertible securities, which may provide income to the fund. The fund primarily invests in companies with market capitalizations between $250 million and $4 billion at the time of purchase.