Highlands Holdings Bond Issuer Limited / Highlands Holdings Bond Co-Issuer, 2.17%
Enbridge Incorporation 6%, 2.13%
JPMorgan Chase & Co. 3.53%, 1.82%
Description
The fund invests at least 80% of its net assets (including investment borrowings) in institutional preferred securities and income-producing debt securities (Income Securities). Preferred securities are a type of equity security that have preference over common stock in the payment of distributions and the liquidation of a company's assets, but are generally junior to all forms of the company's debt, including both senior and subordinated debt. The fund's investments in preferred securities will primarily be in institutional preferred securities.