Strategy. Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high-yield, high-risk bonds, notes, debentures and other debt obligations (including leveraged loans, mortgage-backed securities, convertible bonds, and convertible stock), or preferred stocks. These securities are commonly known as junk bonds. At the time of purchase these securities are rated below BBB- by S&P, or Baa3 by Moodys, or unrated but considered to be of comparable quality by the Adviser. The Portfolio 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 … Show more… Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high-yield, high-risk bonds, notes, debentures and other debt obligations (including leveraged loans, mortgage-backed securities, convertible bonds, and convertible stock), or preferred stocks. These securities are commonly known as junk bonds. At the time of purchase these securities are rated below BBB- by S&P, or Baa3 by Moodys, or unrated but considered to be of comparable quality by the Adviser. The Portfolio 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. The Portfolio utilizes derivatives primarily in the form of U.S. Treasury futures contracts in order to manage the Portfolios duration, or interest rate risk. The Portfolio may enter into derivatives contracts traded on exchanges or in the over the counter market. Show less