Fund Description

The fund was incepted in September 2000 and is managed by the Boston Management and Research. The objective of the fund is to provide a high level of current income. The fund invests primarily in senior, floating-rate loans and secondarily in high-yield corporate bonds. The fund pursues its objective by investing in Floating-Rate portfolio. The fund invests at least 80% of its total assets in a combination of income producing floating rate loans and other floating rate debt securities and high yield bonds. The fund may purchase fixed income debt securities, preferred stocks (many of which have fixed maturities), convertible securities, securities that make 'in-kind' interest payments, bonds not paying current income, bonds that do not make regular interest payments and money market instruments. The fund also invests 25% of its total assets in foreign securities and is engaged in certain hedging transactions. The fund offers dividends monthly and capital gains annually.