Fund Description: High Income Securities Fund, formerly Putnam High Income Securities Fund is a diversified, closed-end management investment company, better known as a closed-end fund or a closed-end ETF. <p> INVESTMENT OBJECTIVE: The fund's primary investment objective is high current income; its secondary objective is capital appreciation. <p> FUND STRATEGY: The fund pursues its objective by investing in both convertible bonds and convertible preferred stocks, which share many of the same characteristics as convertible bonds, but offer greater potential for capital appreciation. <p> FUND MANAGEMENT: The Fund will be internally managed until further notice.