The investment seeks long-term absolute return.
The fund may use an extensive range of investment strategies and invest in a wide spectrum of fixed-income, debt, and money market securities, as well as derivative instruments, in pursuing its investment objective. It may invest in fixed-income, debt, and money market securities of companies and government and supranational entities around the world, including in emerging markets. The fund may invest significantly in particular economic sectors.
The investment seeks to provide long-term total return, and its secondary objective is to provide preservation of capital.
The fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other financial instruments, principally derivative instruments and exchange-traded funds (ETFs), with economic characteristics similar to bonds. It may invest up to 50% of its assets in below investment grade securities (also referred to as "high yield bonds" or "junk bonds") and may invest up to 50% of its assets in non-U.S. dollar denominated securities, including securities issued by companies located in emerging markets.