Fund Description

The fund invests primarily in equity securities with above-average dividend yields and favorable capital appreciation prospects, as determined by sub-adviser Wellington Management. 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 securities of foreign issuers and non-dollar securities and seeks broad diversification by company and industry, though it may focus on one or more sectors. Wellington uses fundamental analysis, including dividend history, free cash flow, business environment, management quality, balance sheet and income statement, and anticipated earnings and revenues, investing in both value and growth companies, including growth at a discount.