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&lt;p style="margin: 0in 0in 0in 9.35pt;"&gt;&lt;font style="font-family: Trade Gothic LT Std; font-size: 15pt;" class="_mt"&gt;T. Rowe Price&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt;&amp;nbsp; &lt;/font&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 0in 9.35pt;"&gt;&lt;font style="font-family: Trade Gothic LT Std; font-size: 24pt;" class="_mt" color="#004f7c"&gt;Equity Income Fund&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Risk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicated</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 2pt;"&gt;&lt;font style="font-family: MetaBoldLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt" color="#004f7c"&gt;Investment Objective&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Investment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund seeks to provide substantial dividend income as well as long-term growth of capital through investments in the common stocks of established companies.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Investment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).</ElementDefenition><ElementReferences>Reference 1: 1
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 -Name Form
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Rowe Price Equity Income Fund</string><string>Equity Income Fund</string></SegmentLabels><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Investor Class Shares" /><Label Id="2" Label="T. 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A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter).  A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
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 -Publisher SEC
 -Name Form
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 -Subparagraph a
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 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
 -Paragraph 2
 -Subparagraph b
 -Subsection instructions

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 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
 -Paragraph 1
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 -Subsection instructions

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Maximum account fee</Label></ElementRow><Segments /><SegmentLabels /></EmbedRequirements><Level>0</Level><ElementName>rr_MaximumAccountFee</ElementName><ElementPrefix /><IsBaseElement>true</IsBaseElement><BalanceType /><PeriodType /><ShortDefinition /><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer>[1]</FootnoteIndexer><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>true</DisplayZeroAsNone><NumericAmount>10</NumericAmount><RoundedNumericAmount>10</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>na</ElementDataType><SimpleDataType>na</SimpleDataType><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Maximum account fee</Label></Row></Rows><Footnotes><Footnote><NoteId>1</NoteId><Note>

Nonretirement accounts with less than a $2,000 balance (with certain exceptions) may be subject to an annual $10 fee.</Note></Footnote></Footnotes><NumberOfCols>1</NumberOfCols><NumberOfRows>4</NumberOfRows><ReportName>Shareholder Fees -

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&lt;p align="center"&gt;&lt;font color="#004f7c" size="2" class="_mt"&gt;Annual fund operating expenses&lt;br /&gt;(expenses that you pay each year as a&lt;br /&gt;percentage of the value of your investment)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Annual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
 -Paragraph 1
 -Subparagraph 7
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 -Publisher SEC
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 -Subparagraph d
 -Subsection instructions

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T. Rowe Price Associates, Inc. is required to permanently waive a portion of its management fee charged to the fund in an amount sufficient to fully offset any acquired fund fees and expenses related to investments in other T. Rowe Price mutual funds. The amount of the waiver will vary each fiscal year in proportion to the amount invested in other T. Rowe Price mutual funds. The T. Rowe Price funds would be required to seek regulatory approval in order to terminate this arrangement. </Note></Footnote><Footnote><NoteId>2</NoteId><Note>

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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;Example&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Heading for Expense Example.</ElementDefenition><ElementReferences>Reference 1: 1
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 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
 -Paragraph 4
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</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Expense Example [Heading]</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_ExpenseExampleNarrativeTextBlock</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div&gt; &lt;div class="MetaData"&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;, &lt;/font&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;and the expense limitation currently in place is not renewed&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;. Although your actual costs may be higher or lower, based on these assumptions your costs would be:&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>The Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 3
 -Paragraph 1
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</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>3 years</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="3 years" /></Labels></Column><Column><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_ExpenseExampleYear05</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>true</DisplayZeroAsNone><NumericAmount>384</NumericAmount><RoundedNumericAmount>384</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>rr:NonNegativeMonetaryType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;Portfolio &lt;/font&gt;&lt;font style="font-family: MetaPlusLF-MediumRoman; vertical-align: baseline;" class="_mt" color="black"&gt;&lt;font style="line-height: 12pt; font-family: MetaPlusLF-MediumRoman; letter-spacing: 0pt; font-size: 9.5pt; text-decoration: none;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;Turnover&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Disclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was&amp;nbsp;&lt;font class="_mt"&gt;12.4&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;%&lt;/font&gt; of the average value of its portfolio.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Disclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
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&lt;p style="margin: 0in 0in 2pt;"&gt;&lt;font style="font-family: MetaBoldLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt" color="#004f7c"&gt;Investments, Risks, and Performance&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;Principal Investment &lt;/font&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;Strategies&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Principal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
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 -Section 4
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in common stocks, with 65% in the common stocks of well-established companies paying above-average dividends.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund typically employs a "value" approach in selecting investments. Our in-house research team seeks companies that appear to be undervalued by various measures and may be temporarily out of favor but have good prospects for capital appreciation and dividend growth.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;In selecting investments, we generally look for companies in the aggregate with one or more of the following:&lt;/font&gt;&lt;/p&gt;

&lt;p style="text-indent: -8.65pt; margin: 0in 0in 0in 8.65pt;"&gt;&lt;font style="position: relative; font-family: Symbol; top: -1pt;" class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: Symbol; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;#183;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;an established operating history;&lt;/font&gt;&lt;/p&gt;

&lt;p style="text-indent: -8.65pt; margin: 0in 0in 0in 8.65pt;"&gt;&lt;font style="position: relative; font-family: Symbol; top: -1pt;" class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: Symbol; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;#183;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;above-average dividend yield relative to the S&amp;amp;P 500;&lt;/font&gt;&lt;/p&gt;

&lt;p style="text-indent: -8.65pt; margin: 0in 0in 0in 8.65pt;"&gt;&lt;font style="position: relative; font-family: Symbol; top: -1pt;" class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: Symbol; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;#183;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;low price/earnings ratio relative to the S&amp;amp;P 500;&lt;/font&gt;&lt;/p&gt;

&lt;p style="text-indent: -8.65pt; margin: 0in 0in 0in 8.65pt;"&gt;&lt;font style="position: relative; font-family: Symbol; top: -1pt;" class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: Symbol; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;#183;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;a sound balance sheet and other positive financial characteristics; and&lt;/font&gt;&lt;/p&gt;

&lt;p style="text-indent: -8.65pt; margin: 0in 0in 6pt 8.65pt;"&gt;&lt;font style="position: relative; font-family: Symbol; top: -1pt;" class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: Symbol; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;#183;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 7pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;low stock price relative to a company's underlying value as measured by assets, cash flow, or business franchises.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: Berkeley Book; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;Under normal market conditions, substantial dividend income means that the yield on the fund's portfolio securities generally exceeds the yield on the fund's benchmark.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&amp;nbsp;In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria, as previously described, and purchase securities that the fund's management believes will provide an opportunity for substantial appreciation. These situations might arise when the fund's management believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with the fund's objectives.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Principal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;Principal &lt;/font&gt;&lt;font style="font-family: MetaPlusLF-MediumRoman; vertical-align: baseline;" class="_mt" color="black"&gt;&lt;font style="line-height: 12pt; font-family: MetaPlusLF-MediumRoman; letter-spacing: 0pt; font-size: 9.5pt; text-decoration: none;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;Risks&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt;&amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Narrative Risk Disclosure.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;As with any mutual fund, there is no guarantee that the fund will achieve its objective.&amp;nbsp;&lt;font class="_mt"&gt;The fund's share price fluctuates, which means you could lose money by investing in the fund.&lt;/font&gt; The principal risks of investing in this fund are summarized as follows:&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;Active management risk&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font style="line-height: 12pt; font-family: MetaMediumLF-Roman; font-size: 9.5pt;" lang="EN-US" class="_mt"&gt; &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund is subject to the risk that the investment adviser's judgments about the attractiveness, value, or potential appreciation of the fund's investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;Risks of stock &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&lt;font style="font-family: Berkeley; vertical-align: baseline;" class="_mt" color="black"&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley; letter-spacing: 0pt; font-size: 10pt; text-decoration: none;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/font&gt;&lt;/i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;investing&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is &lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;a &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising prices and falling prices. The value of a stock in which the fund invests may decline due to general weakness in the stock market or because of factors that affect a company or a particular industry.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;Investment style &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&lt;font style="font-family: Berkeley; vertical-align: baseline;" class="_mt" color="black"&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley; letter-spacing: 0pt; font-size: 10pt; text-decoration: none;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/font&gt;&lt;/i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;risk&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;Different investment styles tend to shift in and out of favor, depending on market conditions and investor sentiment. The fund's value approach to investing could cause it to underperform other stock funds that employ a different investment style. The intrinsic value of a stock with value characteristics may not be fully recognized by the market for a long time or a stock judged to be undervalued may actually be appropriately priced at a low level.&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley Book; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;Foreign investing &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&lt;font style="font-family: Berkeley; vertical-align: baseline;" class="_mt" color="black"&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley; letter-spacing: 0pt; font-size: 10pt; text-decoration: none;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/font&gt;&lt;/i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley Book; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;font style="display: none; font-family: times; color: red; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font style="line-height: 12pt; font-family: Berkeley Book; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;risk&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font style="line-height: 12pt; font-family: Berkeley Book; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;&amp;nbsp; &lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;This is the risk that the fund's investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Narrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;div&gt;

&lt;div&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;&lt;font class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. &lt;/font&gt;&lt;/font&gt;&lt;font class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund's past performance (before and after taxes) is not necessarily an indication of future performance.&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;

&lt;div&gt;

&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns.&amp;nbsp;&lt;font class="_mt"&gt;After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.&lt;/font&gt; &lt;font class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;Actual after-tax returns depend on an investor's tax situation and may differ from those shown. &lt;font class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account .&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Risk/Return Bar Chart and Table.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 6pt;" align="center"&gt;&lt;font size="2" class="_mt"&gt;&lt;strong&gt;Equity Income Fund&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;

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 -Subparagraph ii
 -Subsection b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Annual Return 2005</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Annual Return 2005" /></Labels></Column><Column><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_AnnualReturn2006</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.1914</NumericAmount><RoundedNumericAmount>0.1914</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:pureItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.  When a Multiple Class Fund offers more than one Class in the prospectus, provide annual total returns in the bar chart for only one of those Classes. The Fund can select which Class to include (e.g., the oldest Class, the Class with the greatest net assets).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph ii
 -Subsection b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Annual Return 2006</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Annual Return 2006" /></Labels></Column><Column><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_AnnualReturn2007</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0330</NumericAmount><RoundedNumericAmount>0.0330</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:pureItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.  When a Multiple Class Fund offers more than one Class in the prospectus, provide annual total returns in the bar chart for only one of those Classes. The Fund can select which Class to include (e.g., the oldest Class, the Class with the greatest net assets).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph instructions
 -Clause 3
 -Exhibit a
 -Subsection b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Annual Return 2007</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Annual Return 2007" /></Labels></Column><Column><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_AnnualReturn2008</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-0.3575</NumericAmount><RoundedNumericAmount>-0.3575</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:pureItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.  When a Multiple Class Fund offers more than one Class in the prospectus, provide annual total returns in the bar chart for only one of those Classes. The Fund can select which Class to include (e.g., the oldest Class, the Class with the greatest net assets).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph ii
 -Subsection b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Annual Return 2008</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Annual Return 2008" /></Labels></Column><Column><Id>9</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_AnnualReturn2009</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.2562</NumericAmount><RoundedNumericAmount>0.2562</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:pureItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.  When a Multiple Class Fund offers more than one Class in the prospectus, provide annual total returns in the bar chart for only one of those Classes. The Fund can select which Class to include (e.g., the oldest Class, the Class with the greatest net assets).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph instructions
 -Clause 3
 -Exhibit a
 -Subsection b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Annual Return 2009</Label></ElementRow><Period><PeriodType>duration</PeriodType><StartDate>2011-05-01T00:00:00</StartDate><EndDate>2011-05-01T00:00:00</EndDate></Period><Segments /><SegmentLabels /><Unit><UnitID>Unit12</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><MultiplyMeasures><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure><Measure><MeasureSchema /><MeasureValue /><MeasureNamespace /></Measure></MultiplyMeasures><NumeratorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></NumeratorMeasure><DenominatorMeasure><MeasureSchema /><MeasureValue /><MeasureNamespace /></DenominatorMeasure><Scale>0</Scale></Unit></EmbedRequirements><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Annual Return 2009" /></Labels></Column><Column><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><EmbedRequirements><EmbedCommands><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></EmbedCommands><ElementRow><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>rr_AnnualReturn2010</ElementName><ElementPrefix>rr</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.1515</NumericAmount><RoundedNumericAmount>0.1515</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:pureItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.  When a Multiple Class Fund offers more than one Class in the prospectus, provide annual total returns in the bar chart for only one of those Classes. The Fund can select which Class to include (e.g., the oldest Class, the Class with the greatest net assets).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph ii
 -Subsection b

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Rowe Price Equity Income Fund</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>cik0000775688_S000002076Member</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></Segment><Segment><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Equity Income Fund</ValueName><ValueType>rr_ProspectusShareClassAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>cik0000775688_C000005436Member</Id><dimensionId>rr_ProspectusShareClassAxis</dimensionId><type>explicitMember</type></DimensionInfo></Segment></Segments><SegmentLabels><string>Investor Class Shares</string><string>T. Rowe Price Equity Income Fund</string><string>Equity Income Fund</string></SegmentLabels></EmbedRequirements><Level>0</Level><ElementName /><ElementPrefix /><IsBaseElement>true</IsBaseElement><BalanceType /><PeriodType /><ShortDefinition /><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0164</NumericAmount><RoundedNumericAmount>0.0164</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-0.1304</NumericAmount><RoundedNumericAmount>-0.1304</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.2578</NumericAmount><RoundedNumericAmount>0.2578</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.1505</NumericAmount><RoundedNumericAmount>0.1505</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0426</NumericAmount><RoundedNumericAmount>0.0426</RoundedNumericAmount><NonNumbericText 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&lt;p style="margin: 0in 0in 6pt;" align="center"&gt;&lt;font size="2" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Quarter&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Total&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;" align="center"&gt;&lt;font size="2" class="_mt"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &amp;nbsp;Ended&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Return&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;" align="center"&gt;&lt;font size="2" class="_mt"&gt;&lt;font class="_mt"&gt;&lt;font size="2" class="_mt"&gt;Best Quarter&lt;/font&gt;&lt;/font&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font class="_mt"&gt;06/30/2009&lt;/font&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font class="_mt"&gt;&lt;font size="2" class="_mt"&gt;19.44&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="margin: 0in 0in 6pt;" align="center"&gt;&lt;font size="2" class="_mt"&gt;&lt;font class="_mt"&gt;&lt;font size="2" class="_mt"&gt;Worst Quarter&lt;/font&gt;&lt;/font&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font class="_mt"&gt;12/31/2008&lt;/font&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font class="_mt"&gt;&lt;font size="2" class="_mt"&gt;-22.14&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a bar chart showing the Fund's annual total returns for each of the last 10 calendar years (or for the life of the Fund if less than 10 years), but only for periods subsequent to the effective date of the Fund's registration statement. Present the corresponding numerical return adjacent to each bar. If the Fund's fiscal year is other than a calendar year, include the year-to-date return information as of the end of the most recent quarter in a footnote to the bar chart. Following the bar chart, disclose the Fund's highest and lowest return for a quarter during the 10 years or other period of the bar chart.</ElementDefenition><ElementReferences>Reference 1: 1
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&lt;p style="margin: 0in 0in 0pt;" align="center"&gt;&lt;strong&gt;&lt;font color="#008080" class="_mt" style="font-family: Times;"&gt; &lt;/font&gt;&lt;/strong&gt;&amp;nbsp;&lt;/p&gt;

&lt;p style="margin: 0in 0in 0pt;" align="center"&gt;&lt;strong&gt;&lt;font color="#004f7c" size="2" class="_mt"&gt;Periods ended December 31, 2010&lt;/font&gt;&lt;/strong&gt;&lt;/p&gt;&lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>This item represents Average Anuual Total Returns. If a Multiple Class Fund offers a Class in the prospectus that converts into another Class after a stated period, compute average annual total returns in the table by using the returns of the other Class for the period after conversion.</ElementDefenition><ElementReferences>Reference 1: 1
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 -Exhibit 2
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 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph iii
 -Clause 1
 -Exhibit 2
 -Subsection b

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&lt;p style="margin: 0in 0in 6pt;"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;Updated performance information is available through&amp;nbsp;&lt;font class="_mt"&gt;troweprice.com&lt;/font&gt; or may be obtained by calling &lt;font class="_mt"&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt"&gt;1&lt;font style="display: none; font-family: times; color: teal; font-size: 12px;" class="_mt"&gt; &lt;/font&gt;-800-225-5132&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: Times New Roman; font-size: 10pt;" lang="EN-US" class="_mt"&gt; &lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;font style="line-height: 12pt; font-family: ITC Berkeley Oldstyle Std Bk; font-size: 10pt;" lang="EN-US" class="_mt" color="black"&gt;.&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>If the Fund has annual returns for at least one calendar year, provide a table showing the Fund's (A) average annual total return; (B) average annual total return (after taxes on distributions); and (C) average annual total return (after taxes on distributions and redemption). A Money Market Fund should show only the returns described in clause (A) of the preceding sentence. All returns should be shown for 1-, 5-, and 10- calendar year periods ending on the date of the most recently completed calendar year (or for the life of the Fund, if shorter), but only for periods subsequent to the effective date of the Fund's registration statement. The table also shouldshow the returns of an appropriate broadbased securities market index as defined in Instruction 5 to Item 22(b)(7) for the same periods. A Fund that has been in existence for more than 10 years also may include returns for the life of the Fund. A Money Market Fund may provide the Fund's 7-day yield ending on the date of the most recent calendar year or disclose a toll-free (or collect) telephone number that investors can use to obtain the Fund's current 7-day yield. For a Fund (other than a Money Market Fund or a Fund described in General Instruction C.3.(d)(iii)), provide the information in the following table with the specified captions AVERAGE ANNUAL TOTAL RETURNS (For the periods ended December 31, _____). For a Fund that provides annual total returns for only one calendar year or for a Fund that does not include the bar chart because it does not have annual returns for a full calendar year, modify, as appropriate, the narrative explanation required by paragraph (c)(2)(i) (e.g., by stating that the information gives some indication of the risks of an investment in the Fund by comparing the Fund's performance with a broad measure of market performance).</ElementDefenition><ElementReferences>Reference 1: 1
 -Publisher SEC
 -Name Form
 -Number N-1A
 -Chapter A
 -Section 4
 -Paragraph 2
 -Subparagraph iv
 -Subsection b

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