Fund Description

The fund normally invests at least 80% of assets in debt and income-producing equity securities of companies principally engaged in the real estate industry and other real estate related investments, including REIT preferred and common stocks, debt securities of real estate entities, and commercial and other mortgage-backed securities. It emphasizes lower-quality, less-than-investment-grade debt securities (high yield or junk bonds) and may invest in domestic and foreign issuers. Derivatives providing exposure to these investments or related market risk factors are included in the 80% policy. Investments are selected using fundamental analysis of issuer financial condition, industry position, and market and economic conditions.