Industry description
The investment seeks high current income while preserving principal; the fund's secondary investment objective is to obtain long-term growth of capital in order to maintain investors' purchasing power.
The principal strategies of the fund are to invest in investment-grade corporate bonds, government bonds, asset-backed securities, mortgage-backed securities, and other types of debt securities. Under normal conditions, at least 65% of its assets will be invested in investment grade debt securities or preferred stock.