T. Rowe Price Instl High Yield (T. Rowe Price Institutional Hig) Fonds

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a widely diversified portfolio of high yield corporate bonds, often called "junk" bonds, as well as income-producing convertible securities and preferred stocks that are rated below investment grade or not rated by any credit rating agency but deemed to be below investment grade.