Fund Description

The fund seeks total return by normally investing at least 80% of net assets (plus borrowings for investment purposes) in U.S. and foreign fixed income instruments across maturities, including mortgage- and other asset-backed securities, U.S. government and agency obligations, corporate debt (including convertibles and commercial paper), floating/variable-rate instruments, structured notes, loans and credit facilities, municipal debt, bank deposits, repos and reverse repos, and related derivatives. Duration may range from under two years to over ten years. It may invest in foreign currencies and emerging-market-tied issuers, and up to 50% in high yield (with some mortgage-related below B). It may use derivatives without limit, including for hedging, risk management or other purposes, including for the purpose or having the effect of creating leverage, and may lend securities.