Fund Description

The fund seeks high current income while maintaining prospects for capital appreciation by investing primarily in a diversified portfolio of equity securities. Under normal circumstances, it invests at least 80% of net assets plus borrowings in equity securities and equity-related instruments, including equity-linked notes, with certain derivatives counted toward this policy. It generally focuses on large caps and dividend-paying stocks, may invest across market caps, countries (including emerging markets), currencies, IPOs, and convertible securities. It writes covered call and put options, primarily via structured notes, to generate option premiums and enhance distributions, which can limit participation in capital appreciation. It may invest in MLPs, REITs, and structured products, and may trade actively and frequently.