The investment seeks long-term capital appreciation.
The fund seeks to achieve its objective primarily by investing in equity securities, including common stocks and convertible securities, of well-financed real estate and real estate-related companies, or in companies which own significant real estate assets at the time of investment ("real estate companies"). Under normal circumstances, at least 80% of the fund's net assets will be invested in securities of real estate companies. It may invest in companies of any market capitalization. The fund also invests in both domestic and foreign securities. It is non-diversified.