Description

This fund typically dedicates a minimum of 80% of its investment capital to a diverse array of high-yield fixed-income securities. These debt instruments are categorized as 'Ba' or lower by Moody's Investors Service or 'BB' or lower by S&P Global Ratings. The portfolio may also include comparable debt rated by other nationally recognized statistical rating organizations (NRSROs) or those otherwise judged to be of similar quality, commonly known as 'junk bonds'.