The investment seeks long-term growth of capital. Current income is a secondary objective. The fund normally invests at least 80% of total assets plus any borrowings for investment purposes in common stocks, convertible securities, warrants and other equity securities. It may also invest up to 20% of total assets in convertible and nonconvertible debt securities below investment grade, or unrated securities, which the investment adviser has determined to be of comparable quality. The fund is nondiversified.