The investment seeks overall total return consisting of long-term capital appreciation and income.
The fund will invest at least 80% of its assets in income-producing securities and instruments including, but not limited to, corporate bonds (including high-yield, below investment grade bonds, which are sometimes referred to as "junk bonds"), government-issued bonds, convertible bonds, preferred stocks, senior loans (which the managers define as a type of security for purposes of this prospectus), and shares of closed-end funds, exchange-traded funds (ETFs) and other investment companies that invest principally in fixed income securities.
The investment seeks high current income and, secondarily, capital appreciation.
The fund normally invests at least 80% of its net assets in non-investment grade securities and/or financial instruments that provide exposure to non-investment grade securities. It may invest in securities of foreign issuers, including those in emerging markets. The fund has no limitations regarding the maturities of the debt securities it can buy, the market capitalization of the issuers of those securities or whether the securities are rated.