Fund Description

The fund invests, under normal circumstances, at least 80% of net assets plus any borrowings in corporate, quasi-sovereign and sovereign debt and other instruments of emerging market country issuers, including exchange-traded funds (ETFs), structured securities and other investments with similar economic exposures. It uses a fundamental process that may integrate ESG factors alongside traditional factors. Holdings may include fixed or floating rate, senior or subordinated obligations and collateralized debt and loan obligations, with exposure also gained via derivatives such as credit linked notes, futures, forwards and swaps. It may invest in any credit quality and currency, may allocate up to 20% to developed-market securities and equity/equity-related holdings, and may hold significant U.S. Treasuries, affiliated money market funds and cash. The fund's target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged), plus or minus 2 years.