Industry description
The investment seeks long-term capital appreciation.
The fund normally invests at least 80% of its assets, including borrowings for investment purposes, in common stocks and other equity securities, such as exchange-traded funds (ETFs), options, preferred stocks and securities convertible into such equity securities. It generally invests in higher quality companies that are trading at significant discounts to portfolio managers' estimates of their intrinsic value. These companies may include large, medium, and smaller-sized companies.