Fund Description

The fund relies on fundamental, value-oriented analysis to select equity securities of infrastructure companies for attractive total return through current income and capital appreciation. Under normal market conditions, it invests at least 80% of total assets in U.S. and non-U.S. infrastructure equities, including common and preferred stocks, convertibles, rights/warrants, equity units, IPOs and PIPEs, and may invest in infrastructure securities structured as REITs. It generally invests at least 40% (or 30% if deemed unfavorable) outside the U.S., primarily in developed markets, with exposure to emerging markets, non-U.S. currencies and depositary receipts. It may invest up to 25% in energy-related MLPs, up to 20% in preferred and other fixed-income securities, and up to 20% in below investment grade securities. It does not seek specific ESG outcomes, though ESG factors may be considered. It may use currency transactions mainly to reduce foreign currency risk.