The investment seeks to achieve capital appreciation and secondarily income generation, with lower volatility than U.S. equity markets. The fund seeks to invest in a diversified portfolio of equity securities, primarily comprised of common stocks of U.S. large-capitalization and mid-capitalization companies. It typically invests in approximately 40-50 equity securities that are diversified among market sectors. Depending on market conditions, the fund may from time to time purchase put options or utilize put spreads on large-cap, broad-based securities indexes to seek to offset some of the risk of a potential decline in value of the fund’s equity holdings.