Fund Description

The fund is actively managed and, under normal circumstances, invests at least 80% of its net assets plus any borrowings for investment purposes in common stocks of companies principally engaged in energy-industry activities, including exploration, production, transmission, refining, storage, marketing, and control and measurement of energy or energy fuels; related component products and services; energy research or experimentation; and energy conservation or pollution control. It covers traditional energy sources such as oil, gas, electricity, and coal, and newer sources such as nuclear, geothermal, and solar power, and may invest in foreign stocks. It is nondiversified and, as a fundamental policy, concentrates more than 25% of assets in energy issuers.