Fund Description

The fund invests mainly in common stocks of small U.S. companies, focusing on growth stocks-companies whose earnings are expected to grow faster than those of similar firms and whose business growth and other characteristics may lead to higher stock prices. Under normal circumstances, it invests at least 80% of net assets in companies of a size similar to those in the Russell 2000 Growth Index; this policy may be changed only after 60 days' notice to shareholders. In selecting holdings, the investment manager may consider valuation, financial strength, growth potential, competitive position, and projected earnings, cash flows, and dividends.