Description

Under typical market conditions, the fund allocates at least 80% of its overall assets to a range of debt instruments, including bonds, bank loans, and other financial products, issued by companies with sub-investment grade credit ratings. While it primarily targets high-yield securities assessed at CCC or better by ratings agencies such as S&P or Moody's, the fund retains the latitude to invest in instruments carrying even lower credit evaluations. The diverse debt holdings within the portfolio comprise corporate bonds, U.S. government securities, and direct loans to businesses, which may feature either fixed, floating, or adjustable interest rates.