Description

Under typical market conditions, this fund aims to achieve its objective by committing at least 80% of its total net assets—inclusive of any funds obtained through borrowing for investment purposes—to various debt instruments like bonds, debentures, and other fixed-income securities. The portfolio has the flexibility to allocate a considerable share of its holdings to higher-yielding, speculative-grade bonds, commonly known as "junk bonds" or "below investment grade" debt. Furthermore, the fund may diversify up to 20% of its net assets into equity securities, encompassing common stocks, preferred stocks, convertible preferred stocks, and comparable investments.