The investment objective of the fund is to achieve an attractive total return from a combination of current income and capital appreciation by investing in a diversified portfolio of U.S. and non-U.S. convertible securities and high income securities. The fund aims to provide equity-type returns with less-than-commensurate risk and to outperform its benchmark over a full market cycle. The fund targets balanced convertibles that are expected to provide both meaningful downside protection if equities weaken and upside participation if the underlying shares appreciate.