Description

Typically, the fund allocates a minimum of 80% of its capital to corporate debt obligations. This allocation also covers associated derivatives and other financial tools whose economic performance resembles that of corporate bonds. While its main strategy involves investment in highly-rated, investment-grade securities, it maintains the option to place up to 10% of its net assets into corporate credit instruments that are rated below investment-grade, commonly known as high-yield or "junk" bonds.