The investment seeks a high level of current income; maximum total return is a secondary consideration but only to the extent consistent with the primary objective.
The fund normally invests at least 80% of its assets in a portfolio of fixed-income securities. It may invest up to 65% of its net assets in any one asset class or market segment. The corporate securities in which the fund will invest may include fixed-income securities issued by corporations located in or outside of the United States. It may invest up to 20% of its assets in public bank loans made by banks or other financial institutions.