Industry description
The investment seeks capital preservation and current income.
The fund invests at least 80% of its net assets in bonds, including corporate and government bonds. Under normal circumstances, its dollar-weighted average maturity does not exceed three years. The fund invests at least 80% of its net assets in bonds rated within the four highest grades assigned by a national bond rating agency (e.g., Standard & Poor’s: AAA, AA, A, or BBB) at the time of purchase, inclusive of cash, and may invest up to 20% of its net assets in unrated and high-yield bonds (“junk bonds”).