Fund Description

The fund invests mainly in a mix of bonds and common stocks of large U.S. companies, with greater emphasis on equities that may include growth, value, or both. It may buy stocks the Investment Manager believes are priced below its assessment of the company's value, along with stocks expected to rise based on other factors. Fixed-income holdings include government and corporate bonds that are mostly investment-grade, generally with intermediate- to long-term maturities of three years or longer. Equity decisions may consider valuation, financial strength, growth potential, competitive position, earnings, cash flows, and dividends; bond decisions may consider credit, interest rate and prepayment risks and market conditions. The fund may use derivatives, including futures, options, warrants and swaps, for hedging and non-hedging purposes.