Description

The fund primarily seeks to generate substantial current income, with capital appreciation being a secondary objective. Under typical market circumstances, at least 80% of the fund's total assets, inclusive of any borrowed capital for investment, will be deployed into securities with floating interest rates. These floating rate instruments are broadly defined to include variable rate loans, other debt instruments with fluctuating rates (such as corporate and U.S. government debt), money market instruments, and holdings in money market or short-term bond funds.