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Eagle Growth & Income Fund 
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Seeks long-term capital appreciation primarily, and current income secondarily. The fund's portfolio managers seek promising companies with sound business fundamentals whose stocks are selling at a discount to their intrinsic value.
Thornburg Investment Management, the subadvisor, assumed management of the fund in July 2001.
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The fund's portfolio manager applies a rigorous standard of research to identify three main types of securities:
- Basic Value - Stocks of financially sound companies with well-established businesses that are selling at low valuations relative to the company's net assets or potential earning power
- Consistent Growers - Stocks of companies with steady earnings and dividend growth that are selling at attractive values and are priced below historical norms
- Emerging Franchise - A small portion of the fund's assets will be invested in value-priced stocks of companies in the process of establishing a leading position in a product, service, or market that is expected to grow at an above average rate
After narrowing the equity universe down to between 100 and 150 companies using valuation parameters, the manager conducts fundamental research by visiting companies and conducting thorough financial and market analysis.
The most attractive companies are then divided into three categories of value stocks: basic value, consistent earners, and emerging franchises. Fund management selects and maintains a diversified portfolio of 35 to 50 stocks.
International investing presents specific risks, such as currency fluctuations, differences in financial accounting standards, and potential political and economic instability. Investing in mid-cap stocks may involve greater risks than investing in larger, more established companies, including the risk of more volatile trading than with large-cap stocks.
A limited portion of the fund's net assets may be invested in foreign securities. International investing presents specific risks, such as currency fluctuations, differences in financial accounting standards, and possible political or economic instability.
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*For the overall period ended Dec. 31, 2009, the Fund's Class A shares were rated 5 stars. This proprietary rating by Morningstar, Inc. reflects risk-adjusted performance among a total of 1,757 large-blend category funds. Class A shares of the fund also received a 5-star rating out of 1,757, 1,376 and 710 funds for the 3-, 5- and 10-year periods, respectively period ended Dec. 31, 2009. These ratings are subject to change every month.
2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers;
(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Funds with at least three years of performance history are assigned ratings from the fund's three-, five- and 10-year average annual returns (when available) and a risk factor that reflects fund performance relative to three-month Treasury bill monthly returns. Funds’ returns are adjusted for fees and sales loads. Ten percent of the funds in an investment category receive five stars, 22.5% receive four stars, 35% receive three stars, 22.5% receive two stars and the bottom 10% receive one star. Investment return and principal value will vary so that investors have a gain or loss when shares are sold. Funds are rated for up to three time periods (three-, five-, and 10-years) and these ratings are combined to produce an overall rating. Ratings may vary among share classes and are based on past performance. Past performance does not guarantee future results.
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