XPND

The fund will invest at least 80% of its net assets in the common stocks of companies identified by it’s investment advisor as either information technology companies or consumer discretionary and communication services companies whose operations are principally derived from and/or dependent upon technology (such companies are collectively referred to herein as “Expanded Technology Companies”). The fund’s investments will be concentrated (i.e., invest more than 25% of fund assets) in the industries or group of industries comprising the information technology sector. It is non-diversified.