The investment seeks to maximize long-term total return.
The fund invests at least 80% of its net assets in fixed income securities and derivatives related to fixed income securities. It invests in a broad range of fixed income securities, including but not limited to, non-investment grade debt securities, highly rated securities and foreign securities, including those from emerging markets, other asset classes of U.S. or foreign issuers, including but not limited to bank loans or loan participation interests in secured, second lien or unsecured variable, fixed or floating rate loans, securitized debt, convertible securities, preferred stock, and common stock.
The investment seeks total return through income and capital appreciation through all market cycles.
The fund invests in fixed-income instruments, including investment-grade securities and below investment-grade securities, commonly referred to as "junk bonds." It generally maintains a dollar-weighted average duration profile between -2 and 6 years. The fund may also invest in floating rate loans, and other floating rate debt instruments.