Fund Description

The fund normally invests at least 80% of its assets in convertible securities-bonds, preferred stocks, and other securities that pay interest or dividends and are convertible into common stocks or its equivalent value. Derivative instruments that provide exposure to these investments or to related market risk factors are included in the 80% policy, consistent with the fund's policies and limitations on derivatives. It may also invest in other securities, including common stocks, and may invest in domestic and foreign issuers. Investments are selected using fundamental analysis of issuer financial condition and industry position, as well as market and economic conditions.