The investment seeks total return. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds and other income instruments (the "80% Policy"). It may invest up to 35% of its net assets in bonds and other income instruments rated below investment grade (i.e., rated lower than BBB by S&P Global Ratings ("S&P") or by Fitch Ratings ("Fitch") or lower than Baa by Moody's Investors Service, Inc. ("Moody's")) and in unrated instruments determined by the investment adviser to be of below investment grade quality ("junk") (the "35% Policy"). The fund is non-diversified.