Fund Description

The fund was incepted in May 1986 and is managed by New York Life Investment Management. The fund seeks a high level of current income consistent with the safety of principal. The fund invests primarily in securities issued or guaranteed by the U.S. government and its agencies and instrumentalities. To enhance the fund's income potential, the fund managers invest in a wide range of U.S. government securities from treasury bills, notes and bonds to higher yielding Ginnie Mae, Fannie Mae and Freddie Mac certificates. The fund seeks a yield and stability advantage over individual investments in government securities by diversifying by maturity, coupon and issuer. The fund offers dividends monthly. Capital gains are distributed in December.