Fund Description

The fund invests primarily in common stocks of companies the Adviser considers well-positioned to become market leaders among emerging technology companies-those believed to have potential to develop, or benefit from, new technology or significant improvements to existing technology. The Adviser's process begins with a top-down analysis of economic conditions, sectors and industries, then focuses on the present or potential key performers in those areas based on a highly subjective analysis of fundamentals such as earnings growth potential and the quality of corporate management. It focuses mainly on U.S. stocks, may invest in equity REITs, foreign stocks and ADRs, and tends to hold small- to mid-cap and newer companies. The fund has adopted a policy to invest at least 80% of its net assets in equity securities of emerging technology companies, as determined by the Adviser.