About: It seeks to provide a high level of current income, consistent with preservation of capital. The Fund seeks to achieve its objective primarily by investing in senior secured loans whose interest rates float or adjust periodically based on a benchmark interest rate. Under normal circumstances, it will invest at least 80% of its total assets in adjustable rate, U.S. dollar-denominated senior loans that are secured. Loans are typically below investment grade quality and are thus associated with securities having speculative characteristics. It may invest up to 20% of its total assets in U.S. dollar-denominated senior loans or borrowers that are organised or located in countries outside the U.S. In addition, it may invest up to 20% of its total assets in senior loans which are not secured by any collateral, other income producing securities with remaining maturities of one year or less, and equity securities and warrants acquired in connection with the investments in senior loans.
Tags: Asset Management Financial Services