Fund Description

The fund was incepted in December 1981 and is managed by Boston Management and Research. The objective of the fund is to provide a high level of total return, consisting of capital appreciation and relatively predictable income. The fund pursues its objective by investing in utilities portfolio. The fund seeks high total return consistent with prudent management and preservation of capital, investing principally in dividend-paying common stocks and dividend-paying or interest-bearing securities that are convertible into common stock. The fund normally invests at least 80% of its net assets in equity securities of utilities companies, including (among others) producers and distributors of gas power, electric energy and communications service providers. The fund also invests 20% of its net assets in fixed-income securities (including up to 10% of net assets in lower rated fixed-income securities). The fund offers dividends monthly. Capital gains, if any, are distributed annually.