The investment seeks to provide a combination of income and capital growth. The fund invests, under normal circumstances, at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in fixed income instruments. The fund seeks to invest a substantial portion (generally, at least 60% at notional value) of its assets in U.S. registered, dollar-denominated bonds or derivatives with similar economic characteristics. It may invest in bonds issued by companies located in countries other than the United States, including companies in emerging markets.