The investment seeks total return. The fund seeks total return through a combination of capital appreciation and current income. Under normal market conditions, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies primarily engaged in the real estate industry (the "80% Policy"). Although the fund invests primarily in domestic securities, it may invest up to 20% of its net assets in foreign securities. The fund is non-diversified.