Industry description
The investment seeks a high level of income over the long term consistent with preservation of capital.
The fund invests at least 80% of its net assets, plus any amounts for borrowing, in a broad range of investment grade fixed income securities, including bonds, notes, domestic and foreign corporate and government securities (including securities issued by government agencies), mortgage-backed securities, collateralized mortgage obligations, asset-backed securities, municipal securities, and short term obligations. It does not limit itself to securities of a particular maturity range but will normally maintain a dollar weighted duration between 4 and 8 years.