The Fund's investment objectives are to provide stockholders with a high level of premium and dividend income and the potential for capital appreciation.

Investment Strategy

Under normal circumstances, the Fund will purchase all of the thirty common stocks included in the Dow Jones Industrial Average^SM ("DJIA Index"), weighted in approximately the same proportions as in the DJIA Index ("Dow Stocks"). The Fund will also purchase other securities or financial instruments, primarily swap contracts, designed to provide additional investment exposure (i.e., leverage) to the return of the Dow Stocks ("Additional Dow Exposure"). The Dow Stocks and the Additional Dow Exposure collectively are referred to herein as the "Total Dow Exposure." The Fund also will engage in certain option strategies, primarily consisting of writing (selling) covered call options on some or all of the Dow Stocks ("Options"). The Options will be written on approximately 50% (or less) of the Total Dow Exposure at the time they are written. As a result, generally 50% (or more) of the Fund's Total Dow Exposure will have the potential for full capital appreciation. The portion of the Total Dow Exposure subject to the Options will be limited in the amount of capital appreciation that may be obtained.