The fund invests primarily in common stocks of companies that the investment adviser believes demonstrate the potential for appreciation or dividends. The fund normally invests at least 80 percent of its assets in equity securities. The fund may invest up to 15 percent of its assets, at the time of purchase, outside the United States. The fund is designed for investors seeking both capital appreciation and income. The fund is non-diversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.