Fund Description

The fund was incepted in March 1990 and is managed by State Street Research & Management Company. The fund seeks to provide long-term growth of capital. The fund is an aggressive growth fund that invests primarily in U.S. and international companies engaged in the exploration, production and distribution of energy and natural resources. Under normal market conditions, the fund invests at least 80% of its net assets in securities of energy and natural resources companies and companies in associated businesses, as well as utilities. The fund expects to invest primarily in developed markets, particularly the U.S. and Canada, but may also invest in emerging markets. The fund's investments may include common and preferred stocks, convertible securities, warrants and depositary receipts. The fund reserves the right to invest up to 20% of its net assets in other U.S. and foreign investments. The fund typically distributes any net income and net capital gains to shareholders in December.