Incentive Fee
20.0%
Hurdle Rate
7.0%
Max Leverage
2.0×

Strategy

The fund's investment objective is to maximize its portfolio's total return. Its primary strategy is to invest in corporate debt securities and collateralized loan obligation (CLO) structured finance investments that own corporate debt securities. The portfolio companies are generally considered below investment grade, and the fund may use leverage to enhance returns.

Distribution Policy

The fund makes quarterly distributions. Stockholders may elect to receive distributions in cash or have them automatically reinvested into additional shares via a distribution reinvestment plan.

Frequency: Quarterly

Distribution Channels

broker-dealer

Offering

Total offering size: $300,000,000

Launch date: 2003-11-01

Target investor: Retail