Fund Description

The fund normally invests at least 80% of its assets in companies engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types, including firms that facilitate drug testing or regulatory approval and those involved with veterinary drugs. It normally invests primarily in common stocks of domestic and foreign issuers. In applying its 80% policy, companies may be deemed principally engaged based on assets, income, sales, or profits tied to these activities, or third-party industry or sector classifications. Derivatives providing exposure to these investments or related market risk factors are included in the 80% policy. The fund uses fundamental analysis of issuers' financial condition, industry position, and market and economic conditions.