Fund Description

The fund invests primarily (80% or more of net assets) in investment-grade debt securities of domestic issuers, including U.S. government and agency securities, corporate and municipal bonds, and money market instruments, and may invest up to 20% in equity securities of domestic or foreign issuers. It seeks comparatively undervalued securities, modest capital appreciation, and growth of investment income, and may use convertibles, warrants, and credit-upgrade candidates. Under normal circumstances, the fund's investments in corporate debt and equity securities will satisfy the fund's religious criteria, which are set by the Catholic Advisory Board; the adviser monitors holdings on an ongoing basis to assess compliance with the moral screening criteria and may sell securities to maintain compliance.