Description

This fund generally commits a minimum of 80% of its net assets, along with any capital borrowed for investment purposes, to debt securities. These bond holdings encompass a broad spectrum, such as government notes and bonds, corporate debt instruments, commercial and residential mortgage-backed securities, asset-backed securities, credit risk transfer securities (CRTs), and money market instruments. A significant portion, specifically at least 65% of its net assets, is earmarked for investment-grade debt. Furthermore, the fund restricts its holdings in high-yield, high-risk bonds (colloquially known as "junk bonds") to a maximum of 35% of its net assets.