The investment seeks high income and some capital appreciation. The fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds. It may invest in a variety of holdings in an effort to enhance income and achieve some capital growth. Under normal conditions, the fund will invest at least 40% of its net assets (unless foreign market conditions are not deemed favorable by the investment adviser, in which case the fund would invest at least 30% of its net assets) in securities issued by governments or companies that are organized or located outside the U.S. or doing a substantial amount of business outside the U.S.