About: Seeks high current income, consistent with the preservation of capital. Under normal market conditions, the Fund seeks to achieve the investment objective by investing at least 80% of its net assets in floating rate debt instruments. The investments will be made predominantly in U.S. dollar-denominated debt securities and will not invest more than 25% of its total assets in other than U.S. dollar-denominated debt securities. The Fund reserves the right to invest without limit in debt securities of non-U.S. issuers, although it will not invest more than 25% of its total assets in debt securities of issuers located in emerging markets. The Fund may invest without limit in debt securities that are rated below investment grade, or unrated but judged by the portfolio manager to be of comparable quality. Not more than 20% of its total assets will be invested in securities that are rated CCC+/Caa1 or lower. Additionally, the fund will target a low to intermediate average portfolio duration, one typically between 0 to 8 years.
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