The investment seeks total return through a combination of income and capital appreciation. Under normal circumstances, the fund invests at least 80% of its assets in income-producing securities such as investment grade corporate bonds, high yield bonds (i.e., junk bonds), preferred stocks, municipal bonds, and U.S. Treasuries. It may also invest in fixed income closed-end funds, dividend-paying equities and other debt securities including but not limited to U.S. government securities, variable- and floating-rate instruments, and mortgage- and asset-backed securities.