Fund Description

The fund invests at least 80% of net assets plus any investment borrowings in income-producing common stocks of publicly traded real estate companies that derive at least 50% of revenues or profits from real estate activities or have at least 50% of asset value in real estate. The companies the sub-adviser selects may be of any market capitalization, including small- and mid-capitalization companies. A majority of total assets will be in REITs, emphasizing equity REITs but also including mortgage and hybrid REITs. It may invest up to 15% of total assets in non-dollar denominated equity securities of non-U.S. issuers; up to 25% collectively in certain non-U.S. equities; and up to 15% in emerging markets. It may use derivatives and currency forwards for risk management, return enhancement, or currency hedging.