Under normal circumstances, fund invests at least 80 percent of the Funds net assets in debt securities; up to 35 percent of the Funds total assets in debt securities that are below investment-grade; and up to 25 percent of the Funds total assets in debt securities of foreign issuers, including emerging markets issuers and debt securities denominated in foreign currencies. We invest principally in debt securities, including corporate, mortgage- and asset-backed securities, bank loans, foreign sovereign debt, supranational entity securities, and U.S. Government obligations. These securities may have fixed, floating or variable rates and may include debt securities of both domestic and foreign issuers. We invest in both investment-grade and below investment-grade debt securities (often called high yield securities or junk bonds), including unrated securities, as well as securities that are in default at the time of purchase.