Fund Description

The fund pursues its investment objective by investing primarily in a diversified portfolio of high yield corporate bonds ("junk bonds"), including debt securities issued by U.S. or foreign businesses, including emerging market debt securities. The adviser selects securities it believes offer attractive risk-return characteristics, analyzing issuers' financial condition, business and product strength, competitive position, and management expertise, and does not limit investments to a particular maturity range. The fund may use derivatives such as futures, options, and swaps; there is no assurance these will work as intended. Under its 80% policy, at least 80% of net assets (plus borrowings for investment purposes) are invested in below investment grade investments, with derivative investments included at market value.