BALQ

The Fund invests at least 80% of its net assets in equity securities listed on the Nasdaq Stock Market. The equity securities in which the Fund invests include common stock, preferred stock and other financial instruments that are, or have characteristics similar to securities which are, listed on the Nasdaq Stock Market . From time to time, the Fund may invest in shares of companies through initial public offerings ("IPOs"). The Fund may also purchase convertible securities. To generate premium income, the Fund will sell (write) call options on the Nasdaq-100 Index. An options contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy (in the case of a call option) a particular asset at a specified future date at an agreed upon price (commonly known as the "strike price"). When the Fund writes (sells) a call option, the Fund is entitled to receive a premium. Although not perfectly correlated, such call options may have the impact of capping potential gains from the Fund's long position in equity securities.