The investment seeks a high level of current income.
The fund allocates the portfolio of investments among the following three categories of the fixed-income market: domestic investment-grade (including, but not limited to, U.S. government, asset-backed, mortgage-backed, corporate, municipal and Risk Transfer Notes), domestic noninvestment-grade, including, but not limited to, corporate debt issues (also known as junk bonds and leveraged loans), MBS, municipal securities and agency Risk Transfer Notes and foreign investments.
The investment seeks a high level of current income with moderate share price fluctuation.
The fund broadly diversifies its assets among a set of T. Rowe Price mutual funds representing specific market segments. It normally invests in a variety of domestic and international bond funds, a money market fund, and an income-oriented stock fund. The fund can invest in funds holding high-quality domestic and foreign bonds, high-yield bonds, short- and long-term securities, and dividend-paying stocks. It may sell shares of the underlying funds for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.