Fund Description

The fund invests, under normal circumstances, at least 80% of net assets in equity securities of companies worldwide that own, explore, or develop natural resources and other basic commodities, or that supply goods and services to such companies, and may invest in non-energy firms developing products and services to enhance energy efficiency. Using top-down industry analysis and research-driven bottom-up selection, it holds a blend of value and growth across market caps, typically 30-60 stocks; under normal circumstances, the manager anticipates that a significant portion of the portfolio will consist of issuers in the energy and materials sectors. It seeks to be diversified internationally by investing in foreign companies and U.S. companies that have principal operations in foreign jurisdictions, may invest up to 100% in foreign securities (including emerging markets), and may use forward currency contracts to manage currency exposure.