Fund Description

The fund pursues relatively high current income by investing primarily in a mix of equity and fixed-income securities with high income potential. The adviser first allocates to fixed income to achieve a minimum income level, then adjusts stock and bond weights based on expected performance and risk. Equity selection focuses on dividend-yielding mid- to large-cap stocks. Fixed-income holdings emphasize higher-yielding domestic and foreign investment-grade and noninvestment-grade bonds, including emerging market debt, and may include foreign currency exposure. It may invest in various U.S. government-related securities, other investment companies (including affiliated funds), REITs, and derivatives or hybrid instruments, and it does not target a specific maturity or duration. Active trading may raise turnover, costs, and short-term gains or losses.