Fiscal Year End
|| High Yield Bond
The fund seeks a combination of long-term capital appreciation and high income.
Under normal circumstances, the fund invests at least 80% of its net assets (including any borrowings for investment purposes) in credit instruments and derivative instruments that are linked to, or provide investment exposure to, credit instruments. The fund defines credit instruments broadly to include any debt instrument or instrument with debt-like characteristics. The fundís investments in credit instruments typically include corporate and sovereign bonds, bank loans, convertible securities and preferred stocks, and securitized instruments, which are vehicles backed by pools of assets such as mortgages, loans, or other receivables.
Please refer to the fundís prospectus for a more detailed description of this fundís investment strategy.
A long-term, risk-tolerant investor seeking a high level of current income and some appreciation potential, and who is willing to accept the possibility of fluctuations in principal value. The fund should not represent a significant portion of your assets. Appropriate for both regular and tax-deferred accounts, such as IRAs and Keoghs.
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The Credit Opportunities Fund offers investors an opportunity for capital appreciation along with high current income through investments in various credit instruments, including high yield bonds, bank loans, and non-U.S. dollar-denominated holdings.
This fund could have greater price declines than a fund that invests primarily in high-quality bonds or loans; the loans and debt securities held by the fund are
usually considered speculative and involve a greater risk of default and price decline than higher-rated bonds.