The investment seeks long-term growth of capital. The fund invests primarily in the equity securities of U.S. companies that the Adviser believes are attractively valued. The Adviser believes that, over time, a company's stock price will come to reflect its intrinsic economic value. The fund may invest in companies of any size and in any industry. The Adviser depends heavily upon the fundamental analysis and research of its large internal research staff in making investment decisions for the fund.