Fund Description

The fund aims to provide exposure to high-yield securities by investing at least 80% of its net assets in a diversified portfolio of corporate debt securities rated below investment grade or unrated securities deemed to be of comparable credit quality. These include public or privately placed U.S. dollar-denominated debt issued by U.S. and non-U.S. companies, with no more than 25% allocated to non-U.S. obligations. Additionally, the fund may invest in investment-grade securities and various other financial instruments. The sub-adviser employs a thorough risk/reward analysis, seeking to capitalize on inefficiencies in the fixed-income markets by acquiring securities priced below their estimated fair value, aiming for current income and capital appreciation.