Industry description
The investment seeks to provide as high a level of current income as is consistent with the preservation of capital.
The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities issued or guaranteed by the U.S. government or its agencies or instrumentalities, and in repurchase agreements in respect of such securities. It may invest in mortgage-related securities issued by U.S. government agencies or instrumentalities. The fund's average effective portfolio maturity and the average effective duration of the fund's portfolio will be less than three years.