The investment seeks positive returns over the long term, regardless of market conditions.
Under normal market conditions, the fund will invest at least 80% of its investable assets in fixed income instruments with varying maturities. The fund's investments in fixed income instruments may include bonds, debentures, notes, commercial paper and other similar types of debt instruments, mortgage-related securities, asset-backed securities, municipal securities, loan assignments and participations, money market instruments, and derivatives related to or referencing these types of securities and instruments. It may invest without limit in derivative instruments.
The investment seeks absolute total return, primarily from income and capital appreciation.
The fund invests, under normal circumstances, at least 80% of its assets (including the amount of borrowings for investment purposes) in U.S. and non-U.S. debt instruments. The fund seeks to achieve its investment goal by investing in a wide array of debt securities or other debt instruments. The fund is non-diversified.