Fund Description

The fund invests at least 80% of net assets plus borrowings in fixed income securities, focusing on U.S. government and agency issues, corporate debt, taxable and tax-exempt municipals, and mortgage- and asset-backed securities. It primarily holds investment-grade bonds, but may also invest in high yield securities, foreign-currency and U.S. dollar debt of foreign issuers, bank loans and other floating-rate securities, preferred stocks, structured products, and derivatives including futures, options, and credit default swaps, with securities of any maturity. Assets are managed by the Manager and a sub-advisor, with allocations that may vary over time.