Growth Funds

In contrast to value funds, growth funds seek to provide capital growth as a
dominant objective. These funds typically invest in a mix of established and
emerging companies with good prospects for sustainable long-term earnings
growth. Current dividend income is usually considered incidental; thus, the
dividend yield on the average growth fund is quite low relative to other stock
fund offerings. The price volatility of the average growth fund is usually higher
than that of equity income and value funds.