About: The Fund seeks a high level of current income. It will invest at least 80% of its Managed Assets in adjustable rate loans, primarily secured senior loans, but also unsecured senior loans and secured and unsecured subordinated loans. It will invest at least 65% of its Managed Assets in adjustable senior loans that are secured by specific collateral. Adjustable rate loans pay interest at rates that are re-determined periodically at short-term intervals on the basis of an adjustable base lending rate plus a premium. It may invest a substantial portion of its Managed Assets in securities that are, at the time of investment, rated below investment grade or unrated but judged to be of comparable quality. Up to 20% of its Managed Assets may be invested in securities of non-US issuers that are US dollar or non-US dollar denominated.
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