Fund Description

The fund seeks stocks of companies its portfolio managers believe will increase in value over time, basing decisions primarily on analysis of individual companies rather than broad economic forecasts. Management reflects the belief that, over the long term, stock prices follow growth in earnings, revenues and/or cash flow. Using various research tools, the managers focus on larger-sized companies and, under normal market conditions, primarily hold securities of companies showing business improvement, such as accelerating earnings or revenue growth, rising cash flows, or other signs of relative business strength. The fund invests mainly in U.S. securities but may buy foreign companies' securities that meet its standards, and may write covered calls on part of its common stock holdings when call premiums are attractive relative to the underlying price.