Fund Description

The fund seeks to achieve its investment objective by generally investing in a diversified universe of U.S. and foreign debt securities maturing in five years or less. It primarily invests in obligations issued or guaranteed by governments, their agencies, corporate debt, bank obligations, commercial paper, repurchase agreements, and money market funds, with a focus on developed countries. The fund aims to maintain at least 80% of its net assets in fixed income securities within this maturity range and to gain exposure to at least three countries, including the U.S., with normal circumstances designating at least 30% of assets in non-U.S. issuers. Investments are primarily considered investment grade and may involve hedging strategies for currency and interest rate exposure.