The investment seeks to maximize current income and total return. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. For purposes of this investment policy, fixed income securities include direct and indirect investments in fixed income securities and investments in other investment companies and financial instruments that drive their value from such securities. It may invest up to 40% of its assets in below investment grade securities (commonly known as "junk bonds"). The fund may also invest in inverse floaters, interest-only and principal-only securities.