The investment seeks current income and long-term capital appreciation through investment in real estate securities. The fund normally invest at least 80% of assets in dividend-paying common and preferred stocks, including dividend-paying convertible preferred securities, of U.S. Realty Companies, preferably those securities having the potential to deliver regular income and to offer the opportunity for long-term growth of income and capital appreciation. It may invest up to 20% of net assets in U.S. securities and instruments. The fund may also invest up to 20% of net assets in securities that at the time of purchase are rated below ?investment grade?.
