Fiscal Year End
|| Large Value
The fund seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued. Income is a secondary objective.
In taking a value approach to investment selection, at least 65% of total assets will be invested in common stocks the portfolio manager regards as undervalued. Stock holdings are expected to consist primarily of large-company issues, but may also include smaller companies.
Individuals seeking a moderately conservative approach to investing in stocks who can accept the risk of loss inherent in common stock investing. Appropriate for both regular and tax-deferred accounts, such as IRAs.
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This fund offers a moderately conservative way to capture the long-term appreciation potential and, secondarily, income, of out-of-favor stocks. By investing in stocks that already appear to be out of favor or undervalued, the fund should be less volatile than one investing in growth stocks. If, as the manager expects, the underpriced holdings regain favor in the marketplace, their prices will riseóproviding capital appreciation opportunities.
The fundís potential for price appreciation may be somewhat lower than one using a growth-focused strategy, and there is also the possibility that a stock judged to be undervalued is actually appropriately priced.