Investments

The fund seeks to invest primarily in a broad range of lower quality, higher yielding debt securities that also provide an opportunity to increase in value. At least 65% of the portfolio will be invested in high-yield, high-risk bonds (Ba or BB or below at time of purchase, or unrated but determined by the fund’s investment adviser to be of equivalent quality) and other similar securities, including preferred stocks. Up to 25% may be invested in common stocks or equity-related securities.