Fund Description

The fund principally invests in securities issued by the U.S. government and its agencies and instrumentalities, and may also invest in securities guaranteed by the U.S. government if backed by the full faith and credit of the United States. The fund will invest at least 80% of its Assets in government bonds including bonds issued or guaranteed by the U.S. government and its agencies and instrumentalities. It mainly holds intermediate- to long-maturity government bonds, including U.S. mortgage-backed securities such as CMOs, pass-throughs, stripped structures, and IO/PO securities, which may represent a significant portion or all of assets. Average weighted maturity ordinarily ranges from three to 15 years, and the adviser has flexibility with respect to the fund's duration. The adviser uses value-oriented risk/reward analysis, considers ESG factors in credit risk assessment, and may participate in interfund lending.