Fund Description

The fund invests primarily in common stocks of companies that produce, design, or market technology products or services, rely extensively on technology in product development or operations, or are expected to benefit from technological advances. It concentrates at least 25% of assets in technology companies related to computers, semiconductors, and electronics, and typically invests well above that level. Under normal circumstances, at least 80% of net assets are invested in equity securities of technology-sector companies, a policy changeable upon 60 days' notice. It focuses mainly on U.S. stocks, with lesser investments in equity REITs, foreign stocks, and ADRs. The adviser selects stocks based on fundamental outlook, tends to hold mid- to large-size established companies, maintains a long-term focus with low turnover, and sells when the original thesis changes or better opportunities arise.