The investment seeks total return with an emphasis on high current income, but also considering capital appreciation.
The fund normally invests at least 80% of its net assets (i) in debt instruments of issuers that are tied economically to emerging market countries and denominated in local currencies and (ii) in derivative instruments with similar economic characteristics to these instruments. Emerging market countries include countries located in Latin America, Asia, Africa, the Middle East, and developing countries of Europe, primarily Eastern Europe. It is non-diversified.
The investment seeks to provide high total return from current income and capital appreciation.
Under normal circumstances, the fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued or guaranteed by non-financial companies, financial institutions and government entities in Emerging Market Countries denominated in the local currencies of an issuer, and in derivative instruments that provide investment exposure to such securities. It may, but is not required to, hedge its exposure to non-U.S. currencies. The fund is non-diversified.