Fund Description

The fund seeks investment objectives by investing in income-producing securities and, under normal circumstances, invests at least 60% of net assets in Treasury Inflation Protected Securities (TIPS), whose principal and interest are linked to CPI inflation and supported by the full faith and credit of the United States. Using a relative value strategy based on its outlook for inflation and real interest rates, it may invest in inflation-indexed and other fixed income securities of any maturity, with average effective duration expected to range from three to seven years. It may also invest in U.S. Treasuries, agency debt, corporate bonds, preferred stocks (including convertibles), mortgage- and asset-backed securities, MLPs, below investment grade securities, REITs, ETFs, and up to 15% in common and preferred stocks, including common stocks of natural resources and precious metals companies and ETFs that invest in natural resources and precious metals companies and gold and silver directly. It may purchase securities in private transactions that qualify under Rule 144A and may purchase securities not registered under the 1933 Act, including Section 4(a)(2) securities and Rule 144A securities, which are subject to restrictions on resale. The fund may lend securities to earn additional income.