Industry description
The investment seeks a high level of current income.
The fund normally invests at least 80% of assets in investment-grade securitized debt securities (those of medium and high quality) and repurchase agreements for those securities. It invests in securitized debt securities (including mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities) issued by the U.S. government and its agencies or instrumentalities, foreign governments, and corporations.