The fund is actively managed and aims to generate high current income through investments in a variety of bonds and debt securities. It allocates at least 80% of its assets to bonds and debt instruments, including high-yield and investment grade corporate debt, debt instruments of emerging market issuers, and securitized debt. The fund may also diversify into US government debt, municipal debt, and non-corporate credit based on market conditions. It may hold cash, cash equivalents, or money market instruments in response to economic conditions. The fund may also use derivative instruments for various purposes, including risk management and to increase total return.