The Funds investment objective is to seek a high level of current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income. Under normal market conditions the fund will invest at least 80% of its net assets in securities of utilities companies and in US non-investment grade debt securities. The fund allocated its assets between two separate investment strategies. Under normal market conditions, the Fund will allocate approximately 70% of its total assets to an investment strategy that focuses on common, preferred and convertible preferred stocks and convertible debentures of utility companies, and approximately 30% of its total assets to an investment strategy that focuses on US dollar denominated non-investment grade bonds, debentures, and other income obligations. No more than 35% of the Funds total assets will be invested in non-investment grade debt securities. The Fund may invest up to 25% of its total assets in foreign securities.
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Ratings Disclaimer
© 2010 - 2011 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
