Fund Description

The fund invests principally in income-producing debt instruments and, under normal circumstances, invests at least 70% of net assets in investment grade debt, including corporate debt, asset-backed and mortgage-related securities, and U.S. government and agency securities. It may invest up to 30% in non-investment grade debt and floating rate senior loans, and may hold U.S. dollar-denominated debt issued by foreign entities primarily in developed markets. The fund expects to keep weighted average duration within one year (plus or minus) of the Bloomberg US 1-3 Year Government/Credit Bond Index and may lend securities to generate income. The sub-adviser uses bottom-up issuer analysis and top-down market assessment and may concentrate in a single sector.