The investment seeks high current income and, secondarily, capital appreciation. The fund normally invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in non-investment grade securities and/or financial instruments that provide exposure to non-investment grade securities. It may invest in securities of foreign issuers, including those in emerging markets. The fund has no limitations regarding the maturities of the debt securities it can buy, the market capitalization of the issuers of those securities or whether the securities are rated.