The investment seeks to provide a high level of current income The fund invests primarily in high yield high risk corporate bonds (commonly referred to as "junk bonds" which are rated lower than investment grade) or are unrated and of comparable quality as determined by the investment adviser It may hold securities that are unrated or in the lowest rating categories The fund may invest up to 25 of total assets in foreign and emerging market securities which are predominantly U S dollar denominated It may engage in derivative transactions