Fund Description

The fund invests primarily in common stocks of companies engaged in the research, development, production, or distribution of products or services related to health care, medicine, or the life sciences, including pharmaceutical firms, medical equipment and supplies makers, hospital operators, health-care services providers, and biotechnology researchers and developers. It will invest at least 80% of net assets in equity securities of health science companies and concentrates at least 25% of assets in the industry, and will regularly invest in health science companies well in excess of this amount. The fund invests primarily in common stocks of U.S. companies, with limited exposure to equity REITs, foreign stocks, and ADRs. The adviser's stock selection process is based on a quantitative and qualitative analysis of individual companies' fundamentals such as valuation, earnings growth potential, competitive advantages and the quality of corporate management, generally targeting large- and mid-cap firms with flexibility across sizes.