Description

This fund seeks to generate both capital appreciation and current income. When market conditions are balanced, it typically allocates approximately 60% of its holdings to equities and other stock-related instruments, with the remaining portion invested in bonds and various debt obligations. The debt component may include speculative-grade bonds, commonly referred to as high-yield or "junk" bonds. At least 25% of the fund's total assets will be committed to senior fixed-income securities.