Strategy. Under normal market conditions, the Fund will invest at least 80% of its net assets plus any borrowings for investment purposes in equity securities issued by U.S. and non-U.S. technology and technology-related companies in any market capitalization range, selected for their rapid and sustainable growth potential from the development, advancement and use of technology. Technology or technology-related companies may include companies operating in any industry, including, but not limited to software, IT services, technology hardware, storage and peripherals, communications equipment, electronic equipment, instruments and components, semiconductors and semiconductor equipment, media, interactive home entertainment, interactive media and services, internet retail, consumer finance, life sciences tools & services, biotechnology, health care technology, diversified telecom services and wireless telecom services. It is anticipated … Show more… Under normal market conditions, the Fund will invest at least 80% of its net assets plus any borrowings for investment purposes in equity securities issued by U.S. and non-U.S. technology and technology-related companies in any market capitalization range, selected for their rapid and sustainable growth potential from the development, advancement and use of technology. Technology or technology-related companies may include companies operating in any industry, including, but not limited to software, IT services, technology hardware, storage and peripherals, communications equipment, electronic equipment, instruments and components, semiconductors and semiconductor equipment, media, interactive home entertainment, interactive media and services, internet retail, consumer finance, life sciences tools & services, biotechnology, health care technology, diversified telecom services and wireless telecom services. It is anticipated that the Funds investments will be focused on companies within such industries that BFA expects will generate a majority of their revenues from the development, advancement, use or sale of new and emerging, or next generation, technology-related products, processes or services. There is no assurance, however, that any of the Funds assets will be invested in such companies at any time. BFA determines, in its discretion, whether a company is a technology or technology-related company. The Fund may invest in companies of any market capitalization located anywhere in the world, including companies located in emerging markets. Equity securities in which the Fund may invest include common stocks, preferred stocks, convertible securities, warrants, depositary receipts, exchange-traded funds (ETFs) and equity interests in real estate investment trusts (REITs) and master limited partnerships (MLPs). The Fund may invest in shares of companies through initial public offerings (IPOs). The Fund may purchase and sell futures contracts, enter into various interest rate transactions such as swaps, caps, floors or collars, currency transactions such as currency forward contracts, currency futures contracts, currency swaps or options on currency or currency futures and swap contracts (including, but not limited to, credit default swaps) and may purchase and sell exchange-listed and over-the-counter (OTC) put and call options on securities and swap contracts, financial indices and futures contracts and use other derivative instruments or management techniques (collectively, Strategic Transactions). The Fund may engage in Strategic Transactions for duration management and other risk management purposes, including to attempt to protect against possible changes in the market value of the Funds portfolio resulting from trends in the securities markets and changes in interest rates or to protect the Funds unrealized gains in the value of its portfolio securities, to facilitate the sale of portfolio securities for investment purposes, to establish a position in the securities markets as a temporary substitute for purchasing particular securities or to enhance income or gain. The Fund will concentrate its investments in companies operating in one or more industries within the technology group of industries. The Fund may invest up to 20% of its net assets plus any borrowings for investment purposes in equity securities issued by companies that are not technology companies and in debt securities issued by any issuer, including non-investment grade debt securities. The Funds investments in non-investment grade securities and those deemed by Fund management to be of similar quality are considered speculative with respect to the issuers capacity to pay interest and repay principal and are commonly referred to as junk or high yield securities. The Fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies. Show less