Fund Description

The fund was incepted in June 1987 and is managed by AEGON/Transamerica fund Advisers, Inc. The fund seeks to provide as high a level of current income for distribution as is consistent with prudent investment, with capital appreciation as only a secondary objective. The fund invests in fixed income debt securities and cash or cash equivalents. The fund invests at least 80% (at market value computed at the time of investment), and may invest all, of its total assets in fixed income debt securities and cash or cash equivalents. It invests at least 50% of assets in straight debt securities which have a rating within the four highest grades as determined by Moody?s Investors Service, Inc. (Aaa, Aa, A or Baa*) or Standard & Poor?s Corporation (AAA, AA, A or BBB*); securities issued or guaranteed by the United States Government or its agencies or instrumentalities; commercial paper rated Prime, Prime-1 or Prime-2 by NCO/Moody?s Commercial Paper Division, Moody?s Investors Service, Inc., or A-1 or A-2 by Standard & Poor?s Corporation; or cash or cash equivalents and up to 50% of the value of the fund?s total assets may be invested in other straight debt securities The fund distributes dividends and capital gains annually.