The investment seeks high total return from current income and capital appreciation.
The fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in fixed income instruments. It may invest, without limitation, in fixed income instruments of any credit quality. The fund may invest up to 20% of its net assets in defaulted corporate securities. The portfolio manager intends to seek to construct an investment portfolio with a weighted average effective duration of no less than two years and no more than eight years.