The fund seeks long-term growth of capital and a modest level of income.
The fund will normally invest at least 80% of net assets in the common stocks of companies in the financial services industry. In addition, the fund may invest in companies, such as data services or financial software providers, that derive at least 50% of their revenues from conducting business with the financial services industry.
Individuals seeking long-term capital growth and modest income through increased exposure to financial services companies who can accept the risk of price declines inherent in common stock investing. Appropriate for both regular and tax-deferred accounts, such as IRAs.
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The fundís investment program reflects our view that trends in financial services offer opportunities for significant long-term capital appreciation. For investors with broad exposure to equities, the fund provides a way to focus on an area of the economy undergoing substantial change and rapid growth. The potential rewards of investing in such a focused fund include higher returns than the overall market.
Since the fundís holdings are concentrated in the financial services industry, it will be less diversified and more volatile than stock funds investing in a broader range of industries. In general, the fund represents greater potential risk than a more diversified fund, although the dividends paid by financial services companies may moderate this risk to some extent. Financial services companies may be hurt when interest rates rise sharply, although not all companies are affected equally. The stocks may also be vulnerable to rapidly rising inflation.
* Annually we evaluate the standard deviation of each US mutual fund listed and its resulting placement within specific risk/return categories.
Methodology: If a fund is at least 5 year old, it is generally placed in risk/return categories based on the standard deviation of its performance for the longest period of its calendar year returns;
the longest time period used for analysis is 10 years (regardless of the fund's inception). If a fund is less than 5 years old, we generally use the fund's primary benchmark disclosed in its prospectus as a proxy and follow the same process of using 10-year standard deviation of the benchmark,
or longest time period available. The firm at its sole discretion may show a fund in a higher risk category based on qualitative or other factors that may differ from this methodology.
See Glossary for additional details on all data elements.
The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Download a prospectus.