Fund Description

The fund normally invests at least 80% of assets in securities of companies principally engaged in manufacturing or distributing consumer discretionary products and services, including retailers; auto and auto-parts makers; consumer electronics, appliance, and home furnishings manufacturers; residential construction firms; leisure, apparel, and luxury goods companies; gaming, hospitality, cruise, and travel operators; restaurants and caterers; and providers of educational, home security, legal, and personal services. It normally invests primarily in common stocks of domestic and foreign issuers and may use derivatives included in its 80% policy. Security selection uses fundamental analysis of issuer financial condition, industry position, and market and economic conditions.