Portfolio that is subadvised by three managers and contains no more than 30 stocks.

The fund, which seeks long-term growth by investing in undervalued stocks, is the third in SunAmerica's multimanager Focused series. The first, which invests in domestic and foreign stocks, was launched in 1998 and followed by a growth and income fund early this year.

Martin Whitman of Third Avenue Funds, Phillip Davidson of American Century Investments, and William Fries of Thornburg Funds manage the newest fund.

SunAmerica manages $4.4 billion of assets in 25 mutual funds, a spokeswoman said. It is a unit of American International Group Inc. of New York.

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