The fund seeks a favorable long-term total return, mainly through capital appreciation, primarily from equity securities of large domestic companies.

The fund invests at least 80% of its assets in equity securities of large domestic companies. The fund uses a variety of comparative valuation criteria to determine whether shares of a particular company might be undervalued, including: previous historical valuations of the same security; valuations of comparable securities; various financial ratios; and the free cash flow generated by the company. The fund may invest up to 20% of its total assets in foreign investments. The fund may, on occasion, also invest a portion of its assets through quantitative techniques to maintain similar overall financial characteristics to the fund's benchmark index, the Russell 1000® Value Index. This quantitative technique, when used, helps the portfolio manager control risk exposures by suggesting security selections that may fill unintended gaps in portfolio construction. Quantitative investment techniques may also be utilized to help the fund remain fully invested in stocks at all times.