Fund Description

The fund was incepted in September 2002 and is managed by Mercantile Capital Advisors, Inc. The fund seeks a high level of current income as is consistent with protection of capital. The fund invests at least 80% of its net assets , in a broad range of bonds and other debt obligations, including corporate obligations, U.S. Government obligations and mortgage-backed securities. The fund invests primarily in the debt obligations of U.S. issuers, it may also invest up to 25% of its total assets in the debt obligations of foreign corporations and governments. The fund declares and pays dividends monthly. Capital gains, if any, are distributed annually.