Fund Description

The fund normally invests primarily in income-producing debt securities, preferred stocks, and convertible securities, with at least 80% of assets in below investment grade debt. Debt securities include corporate bonds, government securities (including Treasury securities), repurchase agreements, money market securities, mortgage and other asset-backed securities, loans and loan participations, and other securities, such as hybrids and synthetic securities, believed to have debt-like characteristics. It may invest in non-income producing securities, including defaulted securities and common stocks, and in companies in troubled or uncertain financial condition. Derivatives that provide related exposure are included in the 80% policy. It invests in domestic and foreign issuers and uses fundamental analysis to select investments.