Strategy. The fund invests primarily in non-investment grade bank loans with a focus on best in class companies with leading market share and ability to generate income. For this purpose, the funds subadviser considers best in class companies to be companies within the funds investment universe that the subadviser believes have a competitive advantage, sustainable capital structure, stable cash flow, and a focus on reducing debt levels. Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a portfolio of senior floating rate loans (Senior Loans), including both secured loans and covenant lite loans which have few or no financial maintenance covenants that would require a borrower … Show more… The fund invests primarily in non-investment grade bank loans with a focus on best in class companies with leading market share and ability to generate income. For this purpose, the funds subadviser considers best in class companies to be companies within the funds investment universe that the subadviser believes have a competitive advantage, sustainable capital structure, stable cash flow, and a focus on reducing debt levels. Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a portfolio of senior floating rate loans (Senior Loans), including both secured loans and covenant lite loans which have few or no financial maintenance covenants that would require a borrower to maintain certain financial metrics. For purposes of this policy, indirect exposure to Senior Loans through investment in exchange-traded funds (ETFs) that invest in such Senior Loans will be considered to be investments by the fund in Senior Loans. ETFs in which the fund invests may include affiliated ETFs that are also managed by the funds subadviser and/or its affiliates. The fund may invest up to 15% of total assets in U.S. and non-U.S. dollar denominated foreign securities and foreign Senior Loans, including Yankee bonds, which are dollar-denominated instruments issued in the U.S. market by foreign branches of U.S. banks and U.S. branches of foreign banks. The fund may purchase derivative instruments, including, but not limited to, options, futures contracts, credit-linked notes, and swaps. The fund may borrow an amount up to 33 1/3% of its total assets (including the amount borrowed). The fund may borrow for investment purposes, to meet repurchase requests and for temporary, extraordinary or emergency purposes. Show less