Fund Description

The fund was incepted in May 1997 and is managed by Security Management Company. The fund seeks long-term growth of capital. The fund pursues its objective by investing, under normal market conditions, at least 80% of its net assets in a diversified portfolio of equity securities that, when purchased, have market capitalizations that are similar to those of companies in the S&P Mid Cap 400 Index. The index currently consists of securities of companies with capitalizations that range from $135 million to $8 billion. The investment manager typically chooses equity securities that appear undervalued relative to assets, earnings, growth potential or cash flows. The fund may also invest in ADRs. The fund pays dividends and distributes capital gains at least annually.