Fund Description

The fund normally invests at least 80% of net assets (plus any borrowings for investment purposes) in common stocks of companies expected to generate a majority of revenues from the development, advancement, and use of technology; certain derivatives may count toward this policy. It typically invests in at least five countries, including the U.S., and the fund typically invests at least 25% of its net assets in securities of foreign issuers; the fund relies on MSCI Inc., or another unaffiliated data provider, to determine the country assigned to a security. It focuses on leading global technology firms across communications, hardware and software, e-commerce and data processing, fintech, industrials, internet infrastructure, media and entertainment, and semiconductors. Stock selection uses intensive fundamental research and may include small, private, or newly public companies, as well as firms benefiting from technology advances. The portfolio may be relatively concentrated, and the fund is nondiversified.