Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks of companies involved in the research, development, production, or distribution of products or services related to health care, medicine, or the life sciences; certain derivatives providing relevant exposure may count toward this policy. It invests across pharmaceutical companies, health care services, medical products and devices, and biotechnology, with allocations varying by relative potential and sector outlook. Using fundamental, bottom-up analysis, it generally follows a growth approach but may emphasize value when valuations appear unusually high. Most assets are typically in U.S. stocks, but it may invest abroad, including privately held companies and companies that only recently began to trade publicly.