The Fund will invest, under normal circumstances, at least 80 percent of its net assets, plus any borrowings for investment purposes, in high yield securities. High-yield securities (commonly referred to as junk bonds) include high risk fixed- and floating-rate bonds which are rated lower than investment grade (i.e., bonds rated lower than Baa3 by Moodys Investors Service, Inc. (Moodys) or lower than BBB- by S&P Global Ratings (S&P) or Fitch Ratings (Fitch)) or are unrated and of comparable quality as determined by GLG Partners LP, the investment sub-adviser to the Fund (the Sub-Adviser). Bonds rated BBB and Baa have speculative characteristics, while lower-rated bonds are predominantly speculative. The Fund may invest up to 30 percent of its net assets in securities rated below B3 by Moodys or lower than B- by S&P or Fitch.