Fund Description

The fund invests in a broadly diversified portfolio of common stocks, generally about 200 to 400 names, built with a multifactor quantitative model to closely track the index or indices underlying its option strategies while considering factors such as predicted dividend yield and seeking to enhance after-tax total return. It continuously writes index call options, typically on broad-based indices, on the full value of its stock portfolio to generate premium income and reduce volatility, while limiting upside participation. It may buy index put options for short-term downside protection and may reduce such holdings at times. It may also invest in affiliated or unaffiliated mutual funds and ETFs, ADRs, REITs, foreign securities traded in U.S. markets, repurchase agreements, and cash equivalents.