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Investment Orientation –low price-to-earnings ratio (P/E), both absolute and relative to a company’s own history |
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Analytical Process – bottom-up |
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Market Capitalization – medium to large |
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Portfolio Holdings –approximately 40 equities |
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Portfolio Turnover – approximately 50% - 75% |
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Diversification
– representation of a single issue usually does not exceed 5%
– industry concentration does not exceed 25%
– no sector constraints |
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Investment Restrictions – no derivative or short positions |
Portfolio
turnover may not be limited during periods of significant redemptions or when,
based upon investment considerations, the Fund's managers deem it necessary to
make changes to the Portfolio's holdings.
Price/Earnings (P/E) ratio is the ratio of a stock's current price to its per-share earnings.
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