Fund Description

Incepted in March 1966, the fund is managed by Boston Management and Research. The objective of the fund is to seek long-term, after-tax returns by investing in a diversified portfolio of equity securities. The fund pursues its objective by investing in tax-managed growth portfolio. The portfolio manager uses derivative instruments to enhance returns or as a substitute for the purchase or sale of securities. The fund primarily invests in domestic securities and 25% of its assets in foreign securities. The fund achieves returns primarily in the form of price appreciation, which is not subject to current tax. The fund also seeks to minimize income distributions and distributions of realized short-term gains, taxed as ordinary income, as well as distributions of realized long-term gains, taxed as long-term capital gains. The fund offers dividends and capital gains annually.