| Investment Objective: |
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. The fixed-income securities in which the fund invests principally include bonds, notes (including structured notes), mortgage-related securities, asset-backed securities, floating rate loans (limited to up to 20% of the fund's net assets) and other floating rate securities, and Eurodollar and Yankee dollar instruments. In constructing the fund's portfolio, the fund's sub-adviser, Insight North America LLC (sub-adviser), focuses on identifying undervalued fixed-income markets, currencies, sectors and securities. The sub-adviser looks for fixed-income securities with the most potential for added value, such as those with the potential for credit upgrades, unique structural characteristics, or innovative features. The fund will not invest more than 70% of its assets, at the time of purchase, in the United States. The fund may invest up to 40% of its assets in emerging markets. Under normal market conditions, the average credit quality of the fund's portfolio will be A3/A- or higher. |
