Fund Description

The fund was incepted in July 1997 and is managed by American Skandia Investment Services, Inc. The fund seeks capital growth by primarily investing at least 80% of its assets in the common stocks of small capitalization companies. The fund advisor prefers to invest in companies that are currently out of favor in the market place but have the potential to achieve significant appreciation as the market place recognizes their fundamental value and their growth potential. The fund may invest up to 15% of its total assets in foreign securities denominated in foreign currencies, depositary receipts or in passive foreign investment companies. The fund distributes dividends and capital gains annually.