The investment seeks high current income.
The fund invests primarily in a diversified portfolio of high-yield, lower-rated domestic and foreign corporate bonds. Its investment adviser selects securities that it believes has attractive risk-return characteristics. The fund may also opportunistically invest up to 20% of its assets in equity securities, convertible securities or pooled vehicles such as exchange-traded funds (ETFs) or other investment companies. It may invest in derivative contracts to implement its investment strategies as more fully described herein.