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The fund invests in a diversified portfolio of debt and equity securities. It may shift its investments from one asset class to another based on the Sub-Adviser's analysis of the best opportunities for the fund's portfolio in a given market. The fund may invest up to 100% of its total assets in debt securities that are rated below investment grade (also known as "junk bonds"), including a portion in defaulted securities. It may also invest up to 25% of its assets in foreign securities, either directly or through depositary receipts.