To generate returns and capital appreciation by predominantly investing
in corporate debt securities of varying maturities across the credit spectrum.
In the United States, the
net corporate debt securities holdings of securities dealers, including securitisations backed by assets such as credit card debt, have fallen sharply since 2008.
The fund invests, under normal circumstances, at least 80 % of its net assets plus any borrowings for investment purposes (measured at the time of purchase)(«Net Assets») in sovereign and
corporate debt securities of issuers in emerging market countries, denominated in the local currency of such emerging market countries, and other instruments, including credit linked notes and other investments, with similar economic exposures.
PNC underwrites and makes markets in
both corporate debt securities and state and municipal obligations.
It will not invest in repo in
corporate debt securities.
Seeks to provide a high level of current income by investing primarily in floating rate senior secured loans (floating rate loans) and
corporate debt securities.