Description

The primary aim of this fund is to deliver substantial current income, while also pursuing long-term capital growth as a secondary objective. Typically, the fund commits at least 80% of its net assets (including any borrowed capital for investment) to investments with floating interest rates or those that offer comparable economic exposure. There are no limitations on the credit quality of its holdings, allowing for investments across the entire spectrum, including those rated below investment grade. Indeed, a significant portion of the portfolio is ordinarily comprised of leveraged loans that are either unrated or carry a sub-investment grade rating.