Fund Description

The fund normally invests at least 80% of its assets in securities of companies principally engaged in the design, manufacture, or sale of products or services used for or in connection with health care or medicine. Holdings may include biotechnology and pharmaceutical firms (including veterinary drugs), makers and distributors of health care equipment, devices, and supplies (including drug delivery systems and eye care products), and owners or operators of health care facilities, HMOs, and other managed plans. It 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.