About: At least 80% of its assets are invested in below investment grade debt securities, loans and preferred stocks. These securities are rated Ba/BB or lower or are unrated. Junk bonds are generally considered speculative. The investment objective is a high level of current income with a secondary objective of capital appreciation. It invests primarily in securities of U.S. issuers, but it may invest up to 25% of its total assets in debt securities of foreign issuers including both developed and emerging markets.
Tags: Asset Management Financial Services