Fund Description

The fund seeks long-term capital appreciation by investing at least 80% of net assets (plus borrowings) in publicly traded equity securities of U.S. and non-U.S. alternative energy companies the adviser deems "Sustainable Energy" firms. It targets companies involved in renewable energy sources and related equipment, technologies, storage or transport, as well as energy conservation and efficiency. Equity securities may include common and preferred stocks, convertibles, rights, and warrants. The fund may invest in companies economically tied to the U.S. and to foreign countries, including potentially companies domiciled or traded in emerging markets, including China, and the fund's currency is U.S. dollars while some investments are denominated in foreign currencies. The fund will normally hold around 30 positions of approximately equal weight, but the portfolio may vary over time. It concentrates in solar, wind, biofuels, hydrogen, geothermal, energy efficiency, and hydroelectricity, and may invest defensively in cash equivalents.