Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high-yield, high-risk instruments that are rated below investment grade, including bonds, notes, debentures and other debt obligations (such as leveraged loans, mortgage-backed securities, convertible bonds, and convertible stock), or preferred stocks. Below investment-grade securities are commonly known as junk bonds, which at the time of purchase are rated below BBB- by S&P or Baa3 by Moodys or are unrated but considered to be of comparable quality by the Adviser. The Fund invests in securities regardless of the securities maturity average and may also invest in foreign securities. Should the Adviser change the investments used for purposes … Show more… Under normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high-yield, high-risk instruments that are rated below investment grade, including bonds, notes, debentures and other debt obligations (such as leveraged loans, mortgage-backed securities, convertible bonds, and convertible stock), or preferred stocks. Below investment-grade securities are commonly known as junk bonds, which at the time of purchase are rated below BBB- by S&P or Baa3 by Moodys or are unrated but considered to be of comparable quality by the Adviser. The Fund invests in securities regardless of the securities maturity average and may also invest in foreign securities. Should the Adviser change the investments used for purposes of this 80% threshold, you will be notified at least 60 days prior to the change. The Adviser uses fundamental and other investment research techniques to determine what securities to buy and sell. Fundamental techniques assess a securitys value based on factors such as an issuers financial profile, management, and business prospects, as applicable. The Adviser focuses on U.S. companies which it believes have or are expected to achieve adequate cash flows or access to capital markets for the payment of principal and interest obligations. While the Fund may use derivatives for any investment purpose, the Fund expects to utilize U.S. Treasury futures contracts in order to manage the Funds duration, or interest rate risk. The Fund may enter into derivatives contracts traded on exchanges or in the over the counter market. Show less