Fund Description

The fund invests primarily in a portfolio of equity and debt securities, generally allocating at least 25% of total assets to equity securities such as common stocks and securities convertible into common stock, and at least 25% to investment-grade debt securities rated at least BBB- by one or more nationally recognized rating firms. Investment-grade debt may include U.S. Government securities (including securities issued by government-sponsored enterprises), corporate debt, structured products, loans, and foreign government securities. It may invest up to 20% in unrated or non-investment-grade debt, excluding U.S. Government securities. It may invest across issuer sizes and maturities, use derivatives for hedging, substitution, return, portfolio management, or cash flow, and invest in non-U.S. securities, and, as part of its strategy, may concentrate its investments in securities of relatively few issuers; if there is cash available for investment and there are not securities that meet its investment criteria, it may invest without limitation in high-quality cash and cash equivalents such as U.S. government securities or government money market fund shares.