Current management arrived at LRCX to cut costs just as the semiconductor capital equipment market had entered a significant downturn. Product focus and cost cutting through difficult times has positioned LRCX to benefit from substantial earnings growth as the product cycle turns more favorable in international markets. There is no signal that tells investors when SmallCaps will make their rapid move ahead of other investment choices. Therefore, our strategy is to remain fully invested in high quality fast growing companies. Stock selection will remain our focus for outperformance.
Past performance is no guarantee of future results.
Returns reflect changes in share price and reinvestment of dividends and are net of expenses. Investment returns and the principal value of an investment will fluctuate, so that when shares are redeemed, they may be worth more or less than their original cost. The stocks of smaller companies may trade less frequently and experience more abrupt price movements than stocks of larger companies, therefore, investing in this sector involves special challenges. The prospectus contains more complete information, including fees and expenses. Please read it carefully before you invest or send money.