Description

Under typical market conditions, this fund commits a minimum of 80% of its total net assets (plus any capital acquired through borrowing for investment purposes) to debt securities and preferred stocks that offer substantial returns but carry a higher degree of risk. This extensive category includes various obligations such as bonds, notes, debentures, leveraged loans, mortgage-backed securities, convertible bonds, and even convertible stock. These kinds of investments are widely recognized in financial circles as "junk bonds."