The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of companies meeting the criteria for “quality” and “mid-capitalization” as determined by the Adviser. The Adviser considers a company to be a “mid-capitalization” company if it is listed in the Russell Midcap® Index at the time that the Adviser creates the fund’s investable universe.