The investment seeks capital appreciation.
The fund mainly invests in common stocks of U.S. companies that the portfolio manager expects to have above-average growth rates. It seeks to invest in newer companies or in more established companies that are in the early growth phase of their business cycle, which is typically marked by above-average growth rates. The fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of "mid-cap" issuers. It defines mid-cap issuers as those issuers that are within the range of market capitalizations of the Russell Midcap® Growth Index.