Fund Description

The fund was incepted in November 1981 and is managed by Smith Barney Fund Management. The objective of the fund is to seek long-term capital growth with current income as a secondary objective. The fund invests primarily in common stocks and common stock equivalents, such as preferred stocks and securities convertible into common stocks, of companies the manager believes are undervalued in the marketplace. The fund generally pays dividends and makes capital gain distributions, if any, once a year, typically in December.