Fund Description

The fund normally invests at least 80% of its net assets, including borrowings for investment purposes, in non-investment-grade debt securities under a non-fundamental policy that can be changed by the fund upon prior notice to shareholders. It generally invests in non-investment-grade debt of domestic corporations, including Rule 144A securities, and may also invest in foreign-issued debt, including up to 5% of total assets in non-U.S. dollar-denominated securities of foreign companies. The sub-adviser analyzes sector opportunities and risks, applies a structural screen, conducts credit selection, and re-evaluates holdings as new information emerges.