Fund Description

The fund invests primarily in equity securities with typically above-average dividend yields and favorable capital appreciation prospects, as determined by sub-adviser Wellington Management Company LLP. Under normal market and economic conditions, it invests at least 80% of net assets in dividend-paying equity securities and tends to focus on larger, well-established companies with market capitalizations similar to those in the S&P 500 Index. It may invest up to 20% in foreign issuers and non-dollar securities and seeks broad diversification by company and industry, though it may emphasize one or more sectors. Wellington Management uses fundamental analysis, including dividend history, free cash flow, business environment, management quality, financial statements, earnings, revenues, and other indicators of value, investing in both value and growth companies, including growth companies trading at a discount.