Fund Description

The fund was incepted in May 2002 and is managed by Massachusetts Financial Services Company. The fund's investment objective is total return (high current income and long-term growth of capital). The fund invests, under normal market conditions, at least 80% of its net assets in fixed income securities and other investments that are issued by, or which provide exposure to, government, government-related, supranational and corporate issuers located, or primarily conducting their business, in emerging market countries. Emerging market countries include any country determined to have an emerging market economy, taking into account a number of factors, including whether the country has a low-to-middle-income economy according to the International Bank for Reconstruction and Development (the World Bank), the country's foreign currency debt rating, its political and economic stability and the development of its financial and capital markets. These countries include those located in Latin America, Asia, Africa, the Middle East and the developing countries of Europe, primarily Eastern Europe. The fund may also invest in all types of fixed income securities and in fixed income securities issued by all types of issuers. The fund is a non-diversified mutual fund. The fund offers dividends monthly and capital gains annually.