Industry description
The investment seeks to provide investment results that correspond to the total return performance of fixed-income securities, in aggregate, as represented by the Bloomberg U.S. Long Credit Bond Index.
Under normal circumstances, at least 90% of the value of the fund’s assets, plus the amount of any borrowings for investment purposes, is invested in securities comprising the index, which, for the fund, are considered bonds. The index is a capitalization-weighted index that measures the investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate and government-related bond markets with a maturity greater than ten years.