Description

Under usual market conditions, this fund allocates over half its total capital to other investment vehicles. These underlying funds exclusively target fixed-income securities. The fixed-income holdings themselves are primarily high-quality (investment-grade) bonds or those with intermediate or short-term maturities. A bond qualifies as investment-grade if, at the time of purchase, it holds a rating of Baa3 or above from Moody's Investors Service, or an equivalent designation from another recognized statistical rating organization.