The investment seeks long-term capital appreciation.
The fund normally invests at least 80% of its net assets in common stocks and other equity securities of medium-sized companies. It currently defines medium-sized companies as those having market capitalizations comparable to those companies included in the Russell Midcap Growth Index. The fund normally invests primarily in equity securities of U.S. companies. It may invest in securities issued in initial public offerings (IPOs) and in non-U.S. securities, and may utilize foreign currency exchange contracts, options, stock index futures contracts and other derivative instruments.