Strategy And Objective

The Fund seeks long-term capital appreciation. Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in common stocks of mid-sized U.S. companies. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The Fund normally invests in companies that the sub-adviser ( Sub-Adviser ) believes have above average prospects for growth. For this Fund, the Sub-Adviser defines mid-sized companies as those companies with market capitalizations that fall within the range of companies in the Russell Midcap Growth Index ( Index ) at the time of purchase. The market capitalization of companies within the Index will change with market conditions.