PYLD

PYLD seeks to maximize yield and pursue long-term capital appreciation through diversified multisector bond exposure, without maturity and credit rating limitations. The portfolio is a collection of various debt securities such as, US and non-US investment grade and high-yield corporate bonds, developed and emerging markets sovereign bonds, and mortgage- and asset-backed securities (agency, non-agency, CMBS). The fund does not trace a benchmark and will pursue any investment opportunities deemed worthy. As such, limitless investments in high-yield securities, foreign-denominated securities, emerging market securities, and derivatives such as options, futures contracts, or swap agreements are possible. Additionally, the fund may use unusual investment techniques such as buybacks, dollar rolls, or contract purchase and sell. The fund may also invest in contingent convertible securities and up to 10% in preferred stocks.