Fund Description

The fund invests in a combination of equity and debt securities. Equity holdings may include common stock, preferred stock, securities convertible into common stock, and securities or other instruments the price of which is linked to the value of common stock. Debt holdings may be of any maturity or credit quality, including below-investment-grade high-yield instruments, as well as investment-grade corporate bonds, asset-backed and mortgage-backed securities (including commercially backed ones), convertible bonds, and sovereign and emerging market debt in U.S. dollars or other currencies. It may invest in foreign and emerging market issuers, use derivatives including U.S. Treasury futures to manage duration, and invest in other mutual funds managed by the adviser or an affiliate. The adviser applies fundamental, quantitative, and technical research.