Fund Description

The fund generally invests at least 80% of net assets, including borrowings, in equity securities of U.S. and non-U.S. companies in technology and technology-related industries, including information technology and communications as well as medical, environmental and biotechnology. It typically invests across several countries and, under normal circumstances, invests at least 40% of net assets outside the U.S., which may be reduced to 30% if conditions are unfavorable; it may temporarily invest less to take defensive positions. It may invest in companies of any market capitalization. Holdings are normally common stocks, but may include convertibles, depositary receipts, rights and warrants, and up to 20% in preferred stock and investment-grade or comparable debt. The fund is non-diversified.