Description

This fund is designed to deliver both ongoing income and long-term capital growth. Under typical market conditions, it dedicates at least 80% of its total investable assets (which includes its net assets plus any borrowed funds) to debt instruments like bonds and loans. These investments are primarily considered high-yield, meaning they carry a rating below investment grade or, if unrated, are judged by the fund's managers to be of similar credit quality. The portfolio includes debt issued by both U.S. companies and non-U.S. companies, provided the latter's debt is denominated in U.S. dollars and is available for trading either on public exchanges or through over-the-counter markets.