Fund Description

The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in dividend paying securities (such as common and preferred stock) or other income producing securities (such as fixed income securities and securities that are convertible into common stock). It primarily invests in common stocks of foreign and domestic issuers believed likely to pay dividends and income and offer potential for above-average capital appreciation and dividend increases. It intends to invest in at least three countries, including the United States, with at least 40% of total assets outside the U.S. It invests in companies whose stocks the Adviser believes are selling at a significant discount to their private market value and may use event-driven arbitrage. It may invest without limit in below-investment-grade convertibles, including up to 5% in defaults, and up to 25% in below-investment-grade non-convertible fixed income, including up to 5% in defaults.