Fund Description

The fund is incepted in January 2002 and is managed by Massachusetts Financial Services Company. The fund's investment objective is capital appreciation. The fund invests, under normal market conditions, at least 65% of its net assets in equity securities of companies with medium market capitalizations, which the fund believes have high growth prospects and attractive valuations based on current and expected earnings or cash flows. The fund's investments in medium market capitalization companies focuses on (but may not be limited to) investments with all or some of the following characteristics - accelerating fundamentals and/or favorable earnings growth rates, the potential to become major enterprises, catalysts to drive higher value, such as 'hidden' or under-appreciated assets, accelerating or new product cycles, restructuring, strategic shifts, management changes, favorable market/economic environment or growth at a reasonable price. The fund may invest in foreign securities (including emerging markets securities) and may have exposure to foreign currencies through its investment in these securities. The fund offers dividends and capital gains annually.