Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds (debt securities). The term “bond” includes any debt or fixed income securities. Up to 30% of its assets may be invested in below investment grade securities (commonly known as “junk bonds” or “high yield securities”). Up to 10% of the fund’s assets may be invested in non-U.S. dollar-denominated instruments, including sovereign and corporate bonds.