General Info
About: Under normal circumstances, the Fund will invest at least 80% of its Managed Assets in preferred securities, convertible securities and related instruments, and it may invest up to 20% of its Managed Assets in other securities, including debt instruments and common stocks acquired upon conversion of a convertible security (such common stocks not normally to exceed 5% of the Managed Assets). Initially, approximately 60% of its Managed Assets will be allocated to preferred securities, 30% to convertible securities and 10% to other debt instruments. Thereafter the portions may vary from time to time, although the Fund will normally invest at least 50% of its Managed Assets in preferred securities and at least 20% in convertible securities. The Fund will invest at least 65% of its Managed Assets in securities that, at the time of investment, are investment grade quality, which includes securities that are unrated but judged to be of comparable quality. The Fund may invest up to 35% of its Managed Assets in securities that, at the time of investment, are not investment grade quality. The Fund may invest up to 5% in securities with a highest rating of CCC or that are unrated but judged to be of comparable quality.
Tags: Asset Management Financial Services
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