Industry description
The investment seeks income; long-term capital appreciation is the secondary consideration.
The fund invests in both investment-grade and high-yield, non-money market debt securities. These securities may include corporate bonds and notes, government securities, collateralized loan obligations, collateralized mortgage obligations, and securities backed by mortgages or other assets. The fund may also invest in certain equity securities such as preferred stock, convertible securities or equity equivalents provided that such investments are consistent with the fund's investment objectives.