Description

This fund's main goal is to deliver significant ongoing income while simultaneously preserving the original investment capital. It allocates its assets across common stocks and convertible debt instruments issued by U.S. companies, without restriction on their market size. To boost returns and protect against market downturns, the fund utilizes techniques such as short selling and total return swaps. The convertible securities it holds generally have an average maturity between two and ten years. Additionally, it can earn extra revenue by selling options. The fund has the discretion to invest any amount in high-yield fixed-income securities, frequently called "junk bonds."