Industry description
The investment seeks to provide a high level of current income with long-term capital appreciation as a secondary objective.
Under normal circumstances, the fund’s sub‑adviser, PineBridge Investments LLC (the “sub‑adviser”), invests at least 80% of the fund’s net assets (plus the amount of borrowings, if any, for investment purposes) in bonds. The fund will not be constrained by management against an index. The average portfolio duration of the fund will normally vary from -3 to 10 years.