General Info
About: Seeks high current income with capital appreciation as a secondary objective. Invests at least 65% of its assets in high-yielding non-investment grade corporate bonds, debentures and notes of U.S. issuers. Up to 35% of its assets may be invested in common stock or other equity-related securities. It may invest a small portion of its portfolio in loan participations, warrants and repurchase agreements. Effective 01-Jun-07,The Fund can use a variety of derivative instruments for investment purposes as well as hedging or risk-management purposes. Effective 17-Sep-07, the Fund is allowed to invest more than 10% of its assets in bonds rated below B by more than one rating agency; the Fund is also allowed to invest in Dollar Roll transaction, which would add more leverage to the Fund.
Tags: Asset Management Financial Services
Website: http://www.leggmason.com