| Investment Objective: |
The fund seeks income and capital appreciation with an emphasis on lower volatility. Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities, and in derivatives and other instruments that have economic characteristics and provide investment exposure similar to equity securities. Equity securities include common stocks, preferred stocks, and securities convertible into common stocks, as well as equity-related instruments and other investments with similar economic characteristics. The Fund seeks income by investing in equity securities and equity-related instruments, including common stocks with dividend yields that the investment manager believes are attractive, while seeking capital appreciation and a lower level of volatility than the broader equity market as measured by the S&P 500 Index. The Fund may invest up to 50% of its assets in equity-linked notes (ELNs). The Fund may also invest up to 25% of its assets in foreign securities, either directly or through depositary receipts. |
