Fund Description

The fund invests in equity securities of companies the portfolio management team believes demonstrate above-average, long-term growth potential, focusing on companies it believes are strongly positioned in the developing growth phase, defined as the period of swift development after a company's start-up phase when growth is expected to occur at a rate generally not equaled by established companies in their mature years. Under normal conditions, it invests at least 65% of net assets in equity securities of small companies, defined by the market-cap range of the Russell 2000 Index at purchase. It may invest in common and preferred stocks, equity interests in trusts (including REITs and privately offered trusts), partnerships and similar vehicles, convertible instruments, and other investments with similar economic characteristics. It may invest up to 20% in foreign and emerging market securities, including ADRs and GDRs, and may trade actively and frequently.