The investment seeks to achieve long-term capital appreciation with an emphasis on risk-adjusted returns and managing volatility in the Portfolio. Under normal circumstances, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities, including common stocks, preferred stocks, warrants, depositary receipts, and other equity securities, and financial instruments that derive their value from such securities. The Active Allocated Portion consists of approximately 30% of the fund's net assets and the Index Allocated Portion consists of approximately 70% of the fund's net assets.