Fund Description

The fund invests primarily in higher yielding, generally lower quality debt securities, including those rated Ba1/BB+ or below, as well as unrated securities deemed of equivalent quality by its investment adviser. These include corporate loan obligations, often classified as "junk bonds." Additionally, the fund may allocate a portion of its assets to securities tied to countries outside the United States, and it may use futures contracts and swaps, which are types of derivatives. Designed for investors seeking high current income, it entails greater credit risk and price volatility than funds focusing on higher quality debt. The investment adviser employs multiple portfolio managers to oversee the fund's segmented assets based on professional judgment and long-term opportunity evaluations.