Fund Description

The fund pursues its investment objective by primarily investing in a diversified portfolio of high yield corporate bonds, which may include debt securities from U.S. or foreign businesses, as well as emerging market debt. The investment adviser selects securities based on their attractive risk-return characteristics, employing an analysis of the issuer's financial condition, business strength, competitive position, and management expertise. The fund is not restricted by maturity range and may utilize derivative contracts such as futures, options, and swaps to implement its strategies. At least 80% of the fund's net assets, plus any borrowing for investment, are allocated to investments rated below investment grade, with advance notice provided for any policy changes.