The new allocation to the Emerging Growth Portfolio is approximately 35% of the small-cap growth "style" allocation within these multistyle Funds, with the Peregrine strategy, the Small Company Growth Portfolio, comprising the remaining 65%. This change will provide greater diversification within the small-cap growth component of these multistyle Funds.
The Emerging Growth Portfolio is subadvised by Wells Capital Management and supported by a nine-member team that includes portfolio managers Brandon M. Nelson, CFA; Thomas C. Ognar, CFA; and Bruce C. Olson, CFA. The portfolio's objective is to seek long-term capital appreciation by investing principally in stocks of small cap companies. In building the portfolio, the portfolio managers conduct bottom-up fundamental research to identify small cap companies with earnings and revenue growth that the team believes is robust and sustainable and whose stock may benefit from upward revisions from the Wall Street analyst community.
Additional reallocations to the Emerging Growth Portfolio may occur throughout the year. We will provide communication updates about any further changes to the multistyle Funds as applicable.
If you have any questions, please contact us at 1-800-222-8222.
Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. Smaller company stocks tend to be more volatile and less liquid than those of larger companies. The use of derivatives may reduce returns and/or increase volatility. Active trading results in increased turnover and trading expenses and may generate higher short-term capital gains. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). One or more of these Funds is exposed to foreign investment risk. Consult the Fund's prospectus for additional information on these and other risks.