Bill Swersey

The fund seeks its objective by investing primarily in common stocks selected on the basis of potential for capital appreciation. Under normal circumstances, its sub-adviser, Wellington Management Company LLP, invests at least 80% of its assets in common stocks of small capitalization companies. The fund may invest up to 20% of its net assets in securities of foreign issuers and non-dollar securities, and may trade securities actively. The manager defines small capitalization companies as companies with market capitalizations within the collective range of the Russell 2000 and S&P SmallCap 600 Indices.