Fund Description

Under normal conditions, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of micro-cap companies, defined as having market capitalizations under $1 billion at purchase or within the Russell Microcap Index range. Using fundamental analysis, it seeks companies with potential for faster growth than the overall economy, emphasizing faster-than-average earnings gains and expected high profit growth. It may invest in common and preferred stocks, REITs and other equity interests, and convertible instruments, and may invest up to 20% in foreign (including emerging market) securities and depositary receipts. The fund may engage in active and frequent trading of its portfolio securities and may use temporary defensive strategies.