Fund Description

The fund invests at least 80% of net assets (plus borrowings for investment purposes) in investment-grade fixed income securities, including U.S. dollar-denominated corporate obligations; securities issued or guaranteed by the U.S. government or its agencies or instrumentalities; dollar-denominated bonds of U.S. and foreign issuers; private placements and Rule 144A securities; and mortgage- and other asset-backed securities, including collateralized bond and loan obligations. It may use exchange-traded and OTC derivatives, which may create leverage, and may invest in money market securities, repurchase agreements, other investment companies and ETFs, and transact on when-issued and related bases; Barings or BIIL intends for the fund's portfolio dollar-weighted average duration generally to match (within 10%) the average duration of the Bloomberg U.S. Aggregate Bond Index.