Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of common stocks of mid-cap companies whose earnings are expected to grow faster than the average company; derivatives providing exposure to this investment focus or related market risk factors may count toward the 80% policy. Mid-cap companies are defined by market-cap ranges of either the S&P MidCap 400 Index or the Russell Midcap Growth Index. The fund uses a growth-oriented approach and generally favors companies with proven products or services, above-average earnings growth, potential to sustain growth, ties to increasing-demand industries, or stock prices that appear to undervalue growth prospects. It may, to a limited extent, invest in privately held and newly public companies, and at times may hold significant exposure to a single economic sector.