Fund Description

The fund was incepted in September 1997 and is managed by Capital Growth Management Limited Partnership. The fund seeks long-term growth of capital. The fund intends to pursue its objective by focusing on equity investments in a smaller number of companies, and/or in a more limited number of sectors (clusters of related industries). The fund is flexibly managed, with the ability to invest in equity, debt and fixed income securities, in different industry sectors and in foreign issuers. The fund may invest in companies regardless of the size of their market capitalization, but primarily invests in companies with market capitalizations of at least $30 million. The investment manager invests both in companies that are attractively valued and that have the potential for growth. The fund may invest in debt and fixed income securities of any maturity. The fund distributes dividends and capital gains, if any, annually in December.