The investment seeks capital appreciation and income. The fund invests primarily in a diversified portfolio of investment grade and junk bonds, including: (i) securities issued or guaranteed by the U.S. government and its agencies and instrumentalities and obligations of U.S. and foreign commercial banks; (ii) obligations of foreign governments; (iii) U.S. and foreign corporate debt securities, including commercial paper, and fully-collateralized repurchase agreements with counterparties deemed credit-worthy by the fund's Sub-Advisers; and (iv) securitized issues.