The investment seeks total return.
Under normal circumstances, the fund's sub-adviser invests at least 80% of the fund's net assets (plus the amount of borrowings, if any, for investment purposes) in bonds. The fund's bond holdings will be invested primarily in bonds issued by governments and government agencies located around the world. It invests at least 40% of its assets (or, if conditions are not favorable, at least 30% of its assets) in non-U.S. issuers directly or through depositary receipts. The fund may invest in securities of any maturity and does not have a target average duration.
The investment seeks a high level of total return consisting of both income and capital appreciation.
The fund invests in bonds and other debt instruments ("Debt Securities") denominated in Australian or New Zealand dollars. Under normal circumstances, it will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Debt Securities. For these purposes, Debt Securities include fixed income securities, such as bonds, notes or other debt obligations, denominated in Australian or New Zealand dollars, as well as certain derivatives and other instruments described herein. It is non-diversified.