Fund Description

The fund invests at least 80% of assets in securities of companies in Internet and Internet-related industries. It primarily holds common stocks and securities convertible into common stocks, but may invest up to 35% in fixed income or debt securities. It may invest without limitation in foreign securities, including emerging markets, and generally selects companies deriving substantial revenue from, or expanding, Internet businesses, with investments generally selected from companies in groups such as media, e-commerce, computer software, internet service providers, internet portals, wireless/broadband access, and telecommunications. It may sell securities without regard to how long they have been held to reduce risk or volatility or to respond to changing fundamental information, hold cash and high-quality reserves, and lend securities.