The investment seeks to provide long-term capital appreciation with lower volatility relative to the domestic equity market. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. The Adviser focuses mainly on the common stocks of domestic companies of any market capitalization, including small- and mid-cap sized companies. In seeking to achieve the fund’s investment objective, the Adviser employs investment management techniques to identify securities that exhibit low volatility returns.