Description

This fund primarily focuses on fixed income, committing a minimum of 80% of its portfolio to debt securities. It emphasizes a global approach, with substantial investments in companies or governments based outside the U.S., or entities that derive a significant portion of their revenue internationally. This international focus also includes securities issued in non-U.S. currencies and the utilization of foreign exchange forward contracts. The fund has the flexibility to allocate a portion of its capital to developing economies, either through issuers operating in emerging markets or by holding debt denominated in their currencies. Additionally, a maximum of 15% of its holdings may comprise lower-rated debt, including those classified as below investment grade or comparable unrated securities.