Fund Description

The fund invests mainly in a diversified portfolio of convertible securities, including synthetic convertible instruments, issued by U.S. and foreign companies without regard to market capitalization. Convertible holdings may be debt securities or preferred stocks exchangeable for common stock; under normal circumstances, at least 80% of net assets plus borrowings are invested in convertibles. Synthetic convertibles may combine a fixed-income security with an equity option, which may have different issuers and can change over time. The fund may invest up to 25% in foreign securities, including ADRs, with foreign debt denominated in U.S. dollars or foreign currencies. In selecting investments, the adviser considers issuer financial soundness and incorporates ESG factors, using top-down diversification across companies, industries, sectors, countries, and currencies.