The investment seeks capital appreciation and secondarily, income. The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities. It focuses its investments on companies with market capitalizations over $5 billion. The fund mainly invests in equity securities that the Sub-Adviser believes are undervalued and therefore represent basic investment value. The Sub-Adviser places particular emphasis on companies with below-average price/cash flow ratios. The Sub-Adviser may also determine a company is undervalued if its stock price is down because of temporary factors from which it believes the company will recover.