|Distribution per share:|
Distribution Rate based on the ||6.56%|
Distribution Rate based on the ||7.29%|
The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all 2014 distributions will be made after the end of 2014.
The Fund is a diversified, closed-end management investment company that seeks to provide current income. The Fund has a secondary objective of capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of U.S. and foreign (including emerging markets) high yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.
Principal Risk Factors: Investment in this Fund involves Investment and market risk, management risk, current economic conditions – credit crisis liquidity and volatility risk, fixed-income securities risk, issuer risk, interest rate risk, prepayment risk, reinvestment risk, credit and below-Investment grade securities risk, short selling risk, valuation risk, credit rating agency risk, non-U.S. securities risk, emerging markets risk, currency risk, preferred stock risk, credit linked notes risk, loan participations and assignments risk, leverage risk, derivatives risk, credit default swaps risk, U.S. government securities risk, non-U.S. government debt securities risk, common stock risk, REIT risk, asset-backed, mortgage-backed or mortgage-related securities risk, inflation/deflation risk, new types of securities risk, counterparty and prime brokerage risk, government intervention in financial markets risk, portfolio turnover risk, market disruption and geopolitical risk, illiquid/restricted securities risk, reverse repurchase agreements risk, repurchase agreements risk, certain affiliations, temporary defensive strategies risk, and secondary market for the Fund’s common shares. The risks of investing in the Fund are spelled out in the prospectus, shareholder reports and other regulatory filings.
The Fund’s daily closing