Description

The fund's core objective is to deliver a significant and consistent stream of income over an extended period, prioritizing the preservation of its investors' principal capital. To achieve this, it commits at least 80% of its net assets, potentially supplemented by borrowed funds, to a diverse array of high-quality, fixed-income investments. This broad spectrum includes corporate and government debt instruments (originating from both domestic and international issuers, including government-affiliated entities), structured credit products such as mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs), asset-backed securities (ABS), municipal bonds, and various short-term debt obligations. While the fund does not restrict itself to a particular maturity window for individual holdings, it typically manages its overall portfolio to maintain an interest rate sensitivity, or dollar-weighted duration, generally between 4 and 8 years.