The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of the portfolio's net assets in equity securities of small-capitalization companies. It invests principally in equity securities of small-capitalization companies, which the manager defines as companies with market capitalizations within the range of the Russell 2000® Index at the time of purchase. The fund's strategy is designed to provide exposure to small public companies with current stock prices that the advisor believes do not accurately reflect their intrinsic values.