The investment seeks long-term capital growth. Under normal circumstances, the fund invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in equity securities or instruments that have similar economic characteristics. It may invest in securities both within and outside the U.S., including emerging and less developed markets. Securities in which the fund may invest may include common stocks, preferred stocks, convertible securities, depositary receipts and rights and warrants to buy common stocks.