The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in equity securities. It invests mainly in common stocks of mid-size and large companies whose stocks typically pay above-average levels of dividend income and are, in the opinion of Sub-Adviser, undervalued relative to similar stocks. The fund may invest up to 25% of its assets in foreign securities, either directly or through depositary receipts.