The investment seeks high current income and long-term growth of income, as well as capital appreciation.
The fund normally invests in a diversified portfolio of debt and equity securities and may shift its investments from one asset class to another. The equity securities consist primarily of common and preferred stocks with market capitalizations greater than $1 billion. The fund may invest up to 100% of total assets in bonds rated below investment grade. It may invest up to 25% of total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.