The investment seeks long-term growth of capital. The fund normally invests at least 80% of total assets in common stocks, convertible securities, warrants and other securities such as ADRs and IDRs of U.S. and foreign companies engaged in the medical research, generally, with an emphasis toward companies engaged in cancer research and drug development. It may also invest up to 20% of total assets in convertible and nonconvertible debt securities below investment grade, or unrated securities. The fund is nondiversified.