Fiscal Year End
The fund seeks to provide long-term growth of capital.
The fund will normally invest at least 80% its net assets (including any borrowings for investment purposes) in securities issued by companies in the industrials sector. Under normal conditions, the fund invests in at least five different countries, including the U.S., and at least 40% of the fund's net assets will normally be invested in companies outside the U.S.
The fund seeks to invest in various companies engaged in the research, development, manufacture, distribution, supply or sale of industrial products, services, or equipment. The fund invests in a wide variety of industries within the industrials sector, which include, but are not limited to aerospace and defense; building products and equipment; automobiles; machinery; construction and engineering; electrical components and equipment; industrial technology; transportation; and manufacturing and industrial conglomerates.
Since the fund is not diversified and invests globally, it is appropriate only for investors who can tolerate substantial volatility. The Global Industrials Fund would be a good complement to an investor's core international holdings as part of an overall diversified portfolio. It should not be an investor's only international holding. Appropriate for both regular accounts and IRAs.
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This fund pursues long-term capital growth by investing in foreign and U.S. companies involved in the industrials sector.
The fund is less diversified than a non-focused fund and its substantial reward potential is coupled with significant risk. In addition, any foreign holdings could be affected by declining local currencies or adverse political or economic events.