Industry description
The investment seeks to provide shareholders current income, with long-term capital appreciation.
The fund invests broadly in debt, equity and/or "hybrid" (convertible) securities. Its investments in debt securities may include investment grade and non-investment grade bonds, bank loans and U.S. government securities. The fund may invest up to 100% of its assets in debt instruments that, at the time of purchase, are rated below investment grade or are unrated but determined to be of comparable quality. It may invest in debt instruments of any maturity and does not seek to maintain a particular dollar-weighted average maturity.