The investment seeks to provide high current income consistent with preservation of principal.
The fund normally invests at least 80% of the fund's assets in investment-grade debt securities that have a dollar-weighted average portfolio maturity of 18 months or less. These securities will consist primarily of U.S. dollar-denominated debt securities that may include, but are not limited to, obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics, including synthetic securities.
The investment seeks to achieve a high level of current income consistent with preservation of capital.
The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in fixed income securities. The fixed income securities in which the fund may invest include, but are not limited to, bonds, convertible securities, municipal securities, mortgage-related and asset-backed securities, and obligations of U.S. and foreign governments and their agencies.