Strategy. The fund invests mainly in convertible securities of U.S. companies. Under normal circumstances, the fund invests at least 80% of its net assets in convertible securities. This policy may be changed only after 60 days notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities the fund buys are below-investment-grade (sometimes referred to as junk bonds). The fund invests significantly in convertible bonds that have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain put features, which allow bondholders to sell the bond back … Show more… The fund invests mainly in convertible securities of U.S. companies. Under normal circumstances, the fund invests at least 80% of its net assets in convertible securities. This policy may be changed only after 60 days notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities the fund buys are below-investment-grade (sometimes referred to as junk bonds). The fund invests significantly in convertible bonds that have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain put features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, the Investment Manager, as defined below, may consider, among other factors: (i) a securitys structural features, such as its position in a companys capital structure and put and call features (a companys right to repurchase the security under specified circumstances is a call feature); (ii) credit and prepayment risks; and (iii) with respect to a companys common stock underlying a convertible security, the stocks valuation and the companys financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. Show less