Description

Generally, the fund commits a minimum of 80% of its total investment capital (encompassing net assets and any funds borrowed for investment) to fixed-income securities. For the purpose of this fund, fixed-income securities are broadly defined as any debt instruments. A portion of the portfolio, up to 30%, may be allocated to sub-investment grade debt, commonly known as 'junk bonds' or 'high-yield securities.' Additionally, the fund maintains flexibility to invest up to 10% of its assets in non-U.S. dollar-denominated instruments, including both government (sovereign) and corporate bonds.