About: Seeks a high level of current income consistent with preservation of capital. The Fund pursues its objective by investing at least 80% of its total assets in senior, floating rate loans by domestic or foreign borrowers, so long as foreign loans are U.S. dollar denominated and payments of interest and repayments are made in U.S. dollars. Investment in such floating rate instruments is expected to minimize changes in the underlying principal value of the Senior Loans, and therefore the net asset value, resulting from changes in market interest rates. The Fund is not subject to any restrictions with respect to the maturity of Senior Loans held in its portfolio. Up to 20% of its total assets may be invested in 1) loan interests which are not secured by any, or that have a lower than senior claim on, collateral, 2) other income producing securities such as investment and non-investment grade corporate debt securities, and 3) warrants and equity securities issued by a borrower. The Fund is not subject to any restrictions with respect to the maturity of Senior Loans held in its portfolio.
Tags: Asset Management Financial Services