Fund Description

The fund normally invests primarily in common stocks and, under normal market conditions, at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate-related investments. Eligible holdings may include commercial and residential mortgage-backed securities; debt of real estate entities; equity of entities whose primary assets are mortgage loans or mortgage-backed securities; REITs and preferred stocks of REITs; real estate developers; companies with substantial real estate holdings; and related businesses such as building supply manufacturers, mortgage lenders, or mortgage servicers. It may invest in domestic and foreign issuers and use derivatives included in the 80% policy to gain exposure to these investments or associated market risk factors. Security selection uses fundamental analysis of issuer financial condition and industry position, along with market and economic conditions.