| Investment Objective: |
The investment seeks as closely as possible, before fees and expenses, the total return of the ICE BofA US Cash Pay High Yield Constrained Index that measures the performance of U.S. dollar denominated below investment grade corporate debt. The index tracks the performance of U.S. dollar denominated below investment grade corporate debt (junk bonds), currently in a coupon paying period, that is publicly issued in the U.S. domestic market. In addition, qualifying securities must have risk exposure to countries that are members of the FX-G10, Western Europe or territories of the U.S. and Western Europe. The FX-G10 includes all Euro members, the U.S., Japan, the United Kingdom, Canada, Australia, New Zealand, Switzerland, Norway and Sweden It is the fund's policy that under normal circumstances it will invest at least 80% of its net assets in below investment grade bonds. |
