Fund Description

The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of net assets in inflation-indexed bonds of varying maturities issued by U.S. and non-U.S. governments (and their agencies or instrumentalities) and corporations, which may be represented by forwards or derivatives such as options, futures, or swaps. Remaining assets may be invested in other fixed income instruments. It primarily holds investment grade securities, may invest up to 10% in high yield securities rated B or higher (with limited exceptions for certain mortgage-related securities), up to 30% in foreign-currency-denominated securities, and up to 10% in emerging market-tied instruments, while normally limiting net foreign currency exposure to 20%. It may use derivatives and invest in mortgage- or asset-backed securities without limitation, transact when-issued or forward, engage in short sales, use techniques such as dollar rolls, and invest up to 10% in preferred securities.