Industry description
The investment seeks to provide long-term growth of income and a high and sustainable level of current income, along with moderate long-term capital appreciation.
The fund invests approximately 60% to 70% of its assets in U.S. and foreign investment-grade fixed income securities that the advisor believes will generate a moderate level of current income, including corporate, government, and government agency bonds, as well as mortgage-backed securities. It may also invest in local currency bonds.