Fund Description

The fund normally invests at least 80% of its assets in a broad range of investment-grade debt securities with a dollar-weighted average portfolio maturity of three years or less. Holdings may include obligations of U.S., state, and local governments and their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics. It may invest up to 10% of net assets in below-investment-grade securities and up to 20% of assets in foreign debt securities, including non-dollar-denominated and emerging markets securities. The 80% policy may be changed with at least 60 days' prior written notice to shareholders.