Description

This fund typically commits a minimum of 80% of its net assets, including any capital borrowed for investment, to various bond instruments. These fixed-income holdings are diverse, encompassing government notes and bonds, corporate debt, commercial and residential mortgage-backed securities, asset-backed securities, credit risk transfer securities (CRTs), and short-term money market instruments, among others. Furthermore, a significant portion—at least 65% of its net assets—is allocated to debt securities classified as investment-grade. Conversely, the fund restricts its exposure to higher-risk, high-yield debt (often termed 'junk bonds') to a maximum of 35% of its net assets.