The investment seeks a high level of current income while preserving capital and minimizing fluctuations in share value. The fund invests primarily in investment grade corporate bonds, U.S. government securities, and mortgage-backed and asset-backed securities. In choosing securities, the subadviser attempts to identify securities that, in its opinion, offer the best combination of yield, maturity and relative price performance, based on anticipated changes in interest rates and the price relationships among various types of fixed-income securities. It is managed so that its duration will be between six months and one year, and will not exceed two years.
Fund filings (PDF) »