Fund Description

The fund was incepted in April 1999 and is managed by Massachusetts Financial Services Company. The fund's investment objective is total return (high current income and long-term growth of capital). The fund invests, under normal market conditions, at least 80% of its net assets in fixed income securities. These securities include U.S. investment grade corporate fixed income securities, U.S. government securities, U.S. high yield fixed income securities, foreign fixed income securities and mortgage-backed and asset-backed securities. The fund may invest in derivative securities. Derivatives are securities whose value may be based on other securities, currencies, interest rates, or indices. The fund is a non-diversified mutual fund. The fund offers dividends monthly and capital gains annually.