Fund Description

The fund normally invests at least 80% of its investable assets (net assets plus any borrowings for investment purposes) in equity and equity-related securities of medium-sized companies with the potential for above-average growth. Medium-sized companies are those within the market capitalization range of the Russell Midcap Index, measured at purchase, though the fund may invest in companies with larger or smaller market capitalizations consistent with its objective. The subadviser uses a growth style, seeking companies believed to have superior sales or earnings growth. Equity-related securities may include ADRs, ADSs, common stocks, non-convertible preferred stocks, warrants, rights, and REIT common and preferred stock. The fund may at times concentrate significantly in a single economic sector.