Description

The fund typically allocates at least 80% of its net assets, along with any borrowed capital for investment, to floating-rate securities or instruments that functionally replicate such returns. It operates without restrictions on the credit quality of its holdings, enabling investments across the entire spectrum, including those classified as below investment grade. Under prevailing market conditions, a significant portion of the portfolio is anticipated to consist of leveraged loans, many of which will be either unrated or possess a speculative (below investment grade) credit rating.