The investment seeks to provide high total return through a combination of current income and capital appreciation.
The fund generally invests at least 80% of net assets (plus the amount of borrowings, if any, for investment purposes) in fixed-income securities. Up to 50% of the fund's assets may be invested in debt securities which are not rated by Moody's or S&P or, if so rated, are not within the grades or ratings (commonly known as "junk bonds"). The fund may invest up to 20% of its total assets in equity securities. It may invest in securities of any maturity and does not have a target average duration.