Description

This fund primarily allocates its investments to a diverse range of fixed income instruments with varying maturity dates. Typically, under standard market conditions, a minimum of 80% of its net assets will be committed to debt and other fixed income securities. While the fund has the flexibility to invest in bonds of any maturity, its portfolio's dollar-weighted average effective duration will generally remain within 30% of the overall U.S. bond market's average duration, as determined by its subadvisers. Furthermore, up to 20% of the fund's total assets may be directed towards securities denominated in currencies other than the U.S. dollar.