Fund Description

The fund invests, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in equity securities. Under normal market conditions, it invests primarily in dividend-paying equities, particularly common stocks of companies with a history of increasing dividends, and may also invest in U.S.-traded common stocks of foreign companies, including American Depositary Receipts. Yield is a consideration in security selection, and the fund may buy stocks that are out of favor and selling below what the portfolio manager believes to be their long-term investment value. It may invest across all capitalization ranges and may sell holdings if key factors change, a negative dividend policy shift is anticipated, or to reduce an oversized position.