Fund Description

The fund invests at least 80% of its assets, plus any borrowings for investment purposes, in equity securities of healthcare companies that derive more than 50% of sales from healthcare-related products or services, including pharmaceuticals, biotechnology, medical devices and supplies, managed care, and healthcare information and service providers. It invests in U.S. and non-U.S. companies across all market capitalizations, may invest up to 50% of total assets in non-U.S. companies and up to 25% in emerging markets, and is nondiversified. An affiliate may execute trades and provide quantitative support. The 80% policy is nonfundamental and may be changed without shareholder approval, and fund shareholders would be given at least 60 days' notice prior to any such change.