Fund Description

The fund invests mainly in equity securities of large and midsize companies that the Investment Manager believes have favorable investment potential. In selecting and selling holdings, the Investment Manager may consider a company's valuation, financial strength, growth potential, competitive position, and projected future earnings, cash flows, and dividends. Under normal circumstances, it invests at least 80% of net assets in equity investments, including common and preferred stocks, convertible securities, warrants, ADRs, and GDRs; this policy may be changed only after 60 days' notice to shareholders. The fund is non-diversified and expects to invest in a limited number of issuers.