Description

The primary goal of this fund is to generate significant current income, with capital appreciation serving as a secondary objective. Ordinarily, the Impax High Yield Bond Fund commits a minimum of 80% of its total assets, including any capital acquired through borrowing for investment purposes, to higher-yielding debt instruments like bonds, notes, or debentures. These securities typically possess a credit rating lower than BBB- from Standard & Poor's or Baa3 from Moody's, or an equivalent assessment from another recognized rating service. The fund may also invest in unrated securities if its investment adviser determines them to be of similar quality.