*Credit ratings depict a registered rating organization’s forward-looking assessment about credit risk that reflect the creditworthiness of an entity or security. Ratings are statements of opinion of the issuing organization and are subject to change without notice. This portfolio intends to focus on securities that fall within the light grey portion of the Credit Quality Target image. “High risk” and “low risk” represent relative risk levels typically associated with a rating. Higher rated securities are still subject to the risk of default.

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