Fund Description

To achieve its investment objective, the fund invests at least 50% of net assets in common or preferred stocks or securities convertible into common stock, which may or may not pay dividends. The balance is primarily invested in U.S. government securities, investment-grade debt (S&P AAA to BBB; Moody's Aaa to Baa), other fixed income securities, or cash equivalents. It is actively managed, targeting companies with strong market positions in growing industries, with no set sector limits and flexibility across market capitalizations. Selection uses fundamental and quantitative analysis and Value Line ranking systems; holdings may be sold based on fundamentals, valuation, gains/losses, or redeployment. It may use U.S. government securities futures to hedge interest-rate exposure or profit from anticipated rate movements, within regulatory exemptions.