The fund seeks capital appreciation by investing in small-size companies in the United States.

The investment process is designed to highlight biotechnology companies and discovery research firms.

The investment team considers a biotechnology company or discovery research firm is one that has at least 50% of its earnings derived from biotechnology activities, or at least 50% of its assets devoted to such activities, based on the company’s most recent fiscal year.

Next, the research team considers discovery research firms are in the early stages of drug research.

Also, according to the team biotechnology activities are research, development, manufacture, and distribution of various biotechnological or biomedical products, services, and processes. This may include companies involved with genomics, genetic engineering, gene therapy, and companies involved in the application and development of biotechnology in areas such as health care, pharmaceuticals, and agriculture.

Then the research process is driven by fundamental analysis of one stock at a time. The research team focuses on companies that exhibit future earnings growth potential at attractive valuations.

In addition, the team prefers companies that generate consistent earnings, cash flow, and income.

Then the manager constructs a diversified portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund is non-diversified, which means it may invest a greater portion of its net assets in the securities of one or more issuers and invests overall in a smaller number of issuers than a diversified fund.

The fund has the flexibility to buy foreign securities that are traded in the U.S. or in foreign markets, as well as American, European, and Global Depositary Receipts.

The fund seeks capital appreciation by investing in small-size companies in the United States.

The investment process is designed to highlight biotechnology companies and discovery research firms.

The investment team considers a biotechnology company or discovery research firm is one that has at least 50% of its earnings derived from biotechnology activities, or at least 50% of its assets devoted to such activities, based on the company’s most recent fiscal year.

Next, the research team considers discovery research firms are in the early stages of drug research.

Also, according to the team biotechnology activities More