Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of companies with growth characteristics, generally based on representation in an appropriate third-party growth-oriented index; derivatives providing relevant exposure may count toward this policy. While it may invest across market capitalizations, it generally seeks investments in stocks of large-cap companies with strong cash flow and an above-average rate of earnings growth, the ability to sustain earnings momentum during economic downturns, and occupation of a lucrative niche in the economy and the ability to expand even during times of slow economic growth. Sector exposure may be significant at times. Investments may include privately held companies and companies that only recently began to trade publicly. The fund is nondiversified.