Long-term capital appreciation and current income are pursued primarily through investments in U.S. stocks with larger market capitalizations. The Fund uses a multi-manager approach to accomplish this.
TEAM OF MANAGERS
The Fund is sub-advised by three complementary asset managers:
Barrow: Bottom-up analysis, with P/E and P/B
ratios below the market and dividend yield above
Brandywine Global: Substantially undervalued,
with dividend-paying companies receiving greater
H&W: Sustainable cash flows and strong balance
sheets, undervalued relative to tangible assets and
long-term normal earnings power.
MFS: Undervalued, high-quality companies with
sustainable, durable franchises, significant free cash
flow and strong management teams.
STRENGTH IN DIVERSIFICATION
The multi-manager approach brings diversification
to the Fund and helps protect it from singlemanager
The Fund’s bottom-up portfolio construction is
well diversified at the security, industry and
The Fund’s assets may also include preferred
stocks, convertible securities, American
Depositary Receipts and foreign stocks traded
on U.S. exchanges.
As larger-cap companies return to their
historical valuations, the Fund is well
positioned to take advantage of this.
- They look for companies with below-average price-to-earnings ratios and below-average price-to-book-value ratios.
- They also seek companies with above-average dividend yields and above-average return on equity or earnings growth potential.
|Hotchkis and Wiley Capital Management, LLC||
|Brandywine Global Investment Management, LLC||
|Barrow, Hanley, Mewhinney & Strauss, LLC||
|Massachusetts Financial Services Co.||