The investment seeks capital appreciation. The fund invests primarily in equity securities of U.S. and foreign companies. It can invest without limit in foreign securities, including depositary receipts, and can invest in any country, including countries with developing or emerging markets. The fund currently emphasizes its investments in developed markets such as the United States, countries in Western Europe and Japan. It may invest in companies of any size; however, it primarily invests in mid- and large-cap companies. Equity securities in which the fund may invest may include common stocks, preferred stocks and warrants.