The investment seeks long-term capital growth. The fund normally invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in the securities of companies that are engaged in the development, production or distribution of pharmaceutical, generic, biotechnology and medical technology products or services. Healthcare companies are those that derive at least 50% of their annual revenues from the production of such products and provision of such services or have at least 50% of their assets in such products or services. It invests primarily in equity securities of both U.S. and non-U.S. companies. The fund is non-diversified.