Description

This fund endeavors to generate significant income by actively managing a portfolio of fixed-income securities issued by companies predominantly located in the United States or Canada. Its core investments typically encompass high-yield bonds, convertible debt instruments, and corporate loans. Securities are chosen by evaluating their potential returns against inherent risks, considering aspects such as the appeal of a particular industry, the credit standing of the issuer, the yield offered, interest rate sensitivity (duration), and protection against early redemption (call protection). To a lesser extent, the fund may allocate capital to other forms of debt securities and dividend-paying equities. Furthermore, it may acquire common stocks resulting from the conversion or restructuring of its other investments and might short equities to hedge these long positions. The fund is also authorized to use derivatives for both risk mitigation and non-hedging purposes.