Description

The fund's advisor intends to invest a substantial portion, at least 80% of its net assets—including any funds borrowed for investment purposes—in bonds. More than half of these net assets will be specifically allocated to residential and commercial mortgage-backed securities, as well as U.S. Treasury obligations. To ensure quality, these particular holdings must, at the time of acquisition, possess a credit rating of at least Aa3 from Moody's or AA- from S&P, an equivalent rating from another nationally recognized statistical rating organization, or be unrated but judged by the advisor to be of comparable high quality.