Fund Description

The fund, under normal circumstances, invests at least 80% of its net assets, plus borrowings for investment purposes, in inflation-indexed bonds of varying maturities issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations; derivatives count toward this policy when they provide exposure to these securities or related risk factors. It maintains average duration within ??40% of the Bloomberg U.S. Treasury Inflation Protected Securities Index. It may invest up to 20% in non-investment grade bonds or emerging market issuers, up to 20% in non-dollar securities of non-U.S. issuers, and without limit in U.S. dollar securities of non-U.S. issuers. It may seek commodity-market exposure via commodity-linked derivatives, commodity-focused vehicles, and up to 25% in a Cayman subsidiary investing primarily in commodity-related instruments. It also invests in mortgage- and other asset-backed securities and may use options, futures, swaps, and other techniques, including reverse repos and dollar rolls, with active trading.