| Investment Objective: |
The Fund seeks the highest available current income consistent with liquidity and low risk to principal; total return is a secondary goal. the Fund invests at least 80% of its net assets in fixed and floating rate investment-grade bonds and other debt securities issued by domestic and foreign governments, corporate entities, and trusts. These may include mortgage and asset backed securities, collateralized debt obligations ("CDOs"), including collateralized loan obligations ("CLOs"), and credit risk transfer securities. The Fund considers debt securities to be investment grade if, at the time of investment, they are rated within the four highest categories by at least one independent credit rating agency or, if unrated, are determined by the Portfolio Managers to be of comparable quality. To enhance yield and add diversification, the Fund may invest up to 20% of its net assets in securities that are below investment grade (commonly known as "junk bonds"). |
