TEMD

The Fund invests at least 80% of its net assets in emerging market debt securities and in derivatives and other instruments that have economic characteristics and provide investment exposure similar to emerging market debt securities. The Fund invests predominately in (i) fixed and floating-rate debt securities and obligations issued by government and government-related issuers in emerging market countries and (ii) debt obligations denominated in emerging market currencies issued by supranational entities. Debt securities may be U.S. dollar denominated or denominated in the local currency or in another currency. The Fund invests at least 50% of its net assets in U.S. dollar denominated and euro denominated debt securities issued by emerging market countries included in the J.P. Morgan EMBI Global Diversified Index. The Fund may buy debt securities rated in any category, including below investment grade securities (also known as "junk bonds"), securities in default and unrated debt securities. The Fund may invest in debt securities of any maturity or duration, and the average maturity or duration.