About: Seeks to provide high current income by investing in high yield fixed income securities. Normally it will invest at least 80% of its total assets in high yield fixed income securities that are rated in the lower rating categories (BBB to CCC for S&P and Baa to Caa for Moodys), and unrated but judged to be of comparable quality. However, it will only invest up to 20% of its total assets in unrated securities, and up to 20% in zero coupon securities. Effective 21-Dec-07 the Fund made the following revisions: The Fund have revised its objective to state The Fund will seek high current income but may also consider capital appreciation. The Fund will invest at least 80% of its assets in high income debt instruments. Percentage limitations on certain types of investments have been eliminated to provide the manager with more flexibility to invest in appropiate securities. The Fund may invest up to 100% in lower quality debt instruments. Certain limitations on the funds ability of invest in derivatives have been removed.
Tags: Asset Management Financial Services