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The investment seeks to provide as high a level of current income as is consistent, in the view of the fund’s investment advisor, with safety of capital; to reduce changes in its share price compared to longer term portfolios is the secondary objective. The fund invests at least 80% of its assets in U.S. government securities. The manager seeks to reduce changes in its share value by maintaining a portfolio of investments with a dollar-weighted average maturity or expected life of normally less than five years.