Industry description
The investment seeks current income.
Under normal circumstances, the advisor intends to invest primarily in fixed income and other income-producing instruments rated investment grade and unrated securities considered by the adviser to be of comparable credit quality. The advisor intends to invest at least 80% of the fund's net assets (plus the amount of borrowings for investment purposes) in bonds. The fund may, however, invest up to 50% of its total assets in fixed income and other income-producing instruments rated below investment grade and those that are unrated but determined by the adviser to be of comparable credit quality.