Investment Objective
The fund seeks to obtain a favorable long-term total return through both capital appreciation and current income, by investing primarily in equity and fixed-income securities of companies principally engaged in or related to the real estate industry.
Portfolio Strategy
The fund invests at least 80% of its assets in the equity and fixed-income securities of companies that are principally engaged in or related to the real estate industry ("real estate securities", including those that own significant real estate assets, such as real estate investment trusts ("REITs"). The fund does not invest directly in real estate. The fund concentrates its investments in the real estate industry. The fund is actively managed using a research-oriented process with a focus on cash flows, asset values and our belief of management's ability to increase shareholder value.
Top 10 holdingsas of
09/30/2009
| Company Name | % Assets | |
| 1 | Simon Property Group, Inc | 10.23 |
| 2 | Boston Properties, Inc | 6.25 |
| 3 | Vornado Realty Trust | 5.96 |
| 4 | Equity Residential | 4.90 |
| 5 | AvalonBay Communities, Inc | 4.67 |
| 6 | Host Marriott Corp | 4.34 |
| 7 | Public Storage, Inc | 3.98 |
| 8 | SL Green Realty Corp | 3.64 |
| 9 | Kimco Realty Corp | 3.19 |
| 10 | HCP, Inc | 3.16 |
portfolio analysis
The risks that the fund is subject to include market risk, company risk, real estate investing risks, real estate securities risk, interest -rate risk, small-cap risk, income volatility risk, credit risk, and foreign investment risks.
The holdings information provided above is as of
the date indicated, and may not reflect the current holdings of this fund.
C41011