Investment Objective: |
The fund aims to seek a high level of current income consistent with preservation of capital and maintenance of liquidity. The fund is actively managed etf the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in investment-grade bonds (securities rated from AAA to BBB. The fund will maintain an average credit rating of A- or higher. These may include corporate bonds, debentures and notes, convertible securities, hybrid securities, mortgage-backed and asset-backed securities, To-be-announced (TBA) mortgage contracts, U.S. government and agency securities, and variable and floating rate securities. The manager focuses on sector allocation, industry allocation, and security selection in making investment decisions. The manager uses bottom-up research to find individual securities that appear comparatively undervalued. The fund will not invest in securities denominated in foreign currencies. |