Description

The fund aims to provide investors with exposure to a broad and varied portfolio of income-producing securities. These holdings can encompass corporate bonds, government bonds, various notes, floating rate notes, convertible bonds, preferred shares, and bank loans, issued by entities located in North America or internationally. While primarily invested in investment-grade debt, the fund is permitted to allocate up to 20% of its assets to higher-yielding bonds and up to 15% to structured credit products, such as CLO debt tranches and other asset-backed securities. The portfolio's composition may also include senior or subordinated debt, secured or unsecured debt, convertible debt, fixed or floating-rate debt, bank loans, money market instruments, and investments in other funds. To generate additional income, the fund may participate in securities lending and utilize derivatives like total return swaps. Derivatives can also be employed to mitigate interest rate risk. The sub-advisor retains full discretion over the fund's reconstitution and rebalancing.