The investment seeks total return.
The fund invests, under normal circumstances, at least 80% of the fund's investable assets in bonds. It invests in securities that are rated investment-grade at the time of purchase. For purposes of this policy, bonds include all fixed-income securities, including but not limited to debt obligations issued by the U.S. government and its agencies, corporate debt securities, mortgage-related securities, and asset-backed securities.
The investment seeks a high and stable rate of current income, consistent with long-term preservation of capital.
The fund invests in a diversified portfolio of high-quality bonds and other debt securities. Under normal circumstances, the fund will invest at least 80% of its total assets in (1) investment-grade debt securities and (2) cash equivalents. "Investment grade" means securities rated Baa3 or higher by Moody's Investors Service, or BBB- or higher by Standard & Poor's Ratings Group or Fitch Ratings, or equivalently rated by any nationally recognized statistical rating organization, or, if unrated, deemed to be of similar quality by Dodge & Cox.