Industry description
The investment seeks to provide a high level of current income; its secondary objective is capital appreciation.
The adviser pursues the fund's investment objectives by investing, under normal circumstances, at least 80% of the fund's assets in a broad range of bonds. The adviser uses bond market sector allocation, yield curve positioning, and comprehensive credit analysis to select securities for the fund. Under normal market conditions, the average duration of the fund's portfolio is expected to be between three and seven years.