Fund Description

Incepted in March 1979, this fund is managed by Prudential Investment Management. The objective of this fund is to seek maximum current income and capital appreciation. The fund invests at least 80% of its investable assets in a diversified portfolio of high yield fixed-income securities rated Ba or lower by Moody's Investors Service, or BB or lower by Standard & Poor's Ratings Group and securities either rated by another major rating service or securities considered by the fund to be of comparable quality, that is, junk bonds. The fund offers dividends every month and capital gains annually.