| Investment Objective: |
This actively managed fixed income fund seeks to provide broadly diversified exposure across bonds of any credit quality. The low-cost fund invests in U.S. Treasury, corporate bonds, and emerging-market bonds. The Fund invests in a variety of fixed income securities that are high-quality, medium-quality, and lower quality bonds (commonly known as "junk bonds") across across several fixed income sectors (for example, U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities). The Fund invests in a variety of fixed income securities of issuers that are tied economically to emerging market countries. This fund is expected to have a meaningful allocation to lower-credit-quality securities, so it is also subject to credit risk; negative perceptions about an issuer's ability to make its interest or principal payments in a timely manner may cause the price of that bond to decrease. Since the fund invests in all major segments, maturities, and qualities of the fixed income market, investors willing to accept additional risk in their fixed income allocation may consider the fund as a satellite holding. |
