The investment seeks long-term capital growth by investing in a worldwide and diversified portfolio of health sciences companies. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of companies principally engaged in the discovery, development, production or distribution of products related to scientific advances in health care, including biotechnology, pharmaceuticals, diagnostics, managed health care and medical equipment and supplies. It has a policy of investing at least 25% of its assets in investments in the medical research and health care industry.