Strategy And Objective

The Fund seeks capital appreciation. Under normal circumstances, the Fund will invest at least 80% of its Assets in long and short positions in equity securities, selecting from a universe of equity securities with market capitalizations similar to those included in the Russell 1000 and/ or S&P 500 Index, at the time of purchase. As of October 31, 2021, the market capitalization of the companies in the Russell 1000 Index ranged from $569 million to $2,490 billion. As of October 31, 2021, the market capitalization of the companies in the S&P 500 Index ranged from $5.95 billion to $2,490 billion. Assets means net assets plus the amount of borrowings for investment purposes.