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The Fund seeks to maximize total return consisting of interest income and capital appreciation.
As a non-fundamental policy, under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds of U.S. issuers that are, at the time of investment, below investment grade (sometimes referred to as “junk bonds” or high yield securities).
TOP HOLDINGS (all classes) as of 10/31/2013
View detailed list of holdings
|SPRINT NEXTEL CORP||2.67%|
|ARCH COAL INC||2.63%|
|ALASKA COMM SYSTEMS GROU||2.60%|
|MARINA DISTRICT FINANCE||2.27%|
|IRON MOUNTAIN INC||2.21%|
|PRETIUM PGK LLC/FIN INC||2.18%|
|INTELSAT LUXEMBOURG SA||2.04%|
|OFFSHORE GROUP INVST LTD||1.94%|
|SEAGATE HDD CAYMAN||1.91%|
Fixed income securities are subject to certain risks including, but not limited to: interest rate (changes in interest rates may cause a decline in the market value of an investment), credit (changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral), prepayment (debt issuers may repay or refinance their loans or obligations earlier than anticipated), and extension (principal repayments may not occur as quickly as anticipated, causing the expected maturity of a security to increase). Typically, when interest rates rise, there is a corresponding decline in the price of bonds. This effect is usually more pronounced for longer-term securities.
The Fund’s investments in high-yield bonds and other lower-rated securities will subject the Fund to substantial risk of loss.
Derivatives are speculative and may hurt the Fund’s performance. They present the risk of disproportionately increased losses and/or reduced gains when the financial asset or measure to which the derivative is linked changes in unexpected ways.
Please read the prospectus for more detailed information regarding these risks.
Feb 28, 2012
2.00% applied within 15 Days
$1,000 Class A and C
$1,000 IRA: Classes A and C
as of October 31, 2013