BRHY

BRHY provides exposure to high-yield corporate debts with maturities of ten years or less. The portfolio includes both domestic and foreign junk bonds, convertibles, preferred stocks, mezzanine investments, collateralized debt obligations (CLOs), bank loans, and mortgage-backed and asset-backed securities. The fund allows up to 30% of its assets in non-dollar-denominated bonds, either hedged or unhedged, and up to 10% distressed securities. The fund adopts a conservative approach to split-rated securities. It also leverages market exposure techniques such as reverse repurchase agreements and dollar rolls to achieve high yields. The fund may engage in active and frequent trading. Derivatives may also be used to enhance returns or manage risks. Lastly, the fund may hold other investment companies, as well as securities and currencies from emerging markets.