Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of blue chip companies with growth characteristics. For this policy, blue chip companies are those represented in the S&P 500 Index and growth characteristics are indicated by representation in an appropriate third-party growth-oriented index; qualifying derivatives exposure may count toward the 80% test. It primarily invests in common stocks, focusing on well-established firms with potential for above-average earnings growth, leading market positions, seasoned management, and strong financial fundamentals, and may target companies with prospects for dividend growth. It may concentrate in a single economic sector and is nondiversified.