Fund Description

Incepted in November 1991, the fund is managed by The Consulting Group, a division of Smith Barney Fund Management LLC. The fund seeks capital appreciation. The fund invests, under normal market conditions, at least 80% of its net assets in the equity securities of small capitalization growth companies, defined as those with market capitalizations, at the time of purchase, below the maximum market capitalization permitted for a stock in the Russell 2000 Growth Index. A portion of the fund's assets may be invested in common stocks of companies with market capitalizations at the lower range of the Russell 2000 Growth Index. The fund distributes dividends and capital gains annually.