Industry description
The investment seeks to provide current income consistent with capital preservation.
The fund normally invests at least 90% of its net assets in U.S. government obligations and up to 10% of its net assets in non-government mortgage- and asset-backed securities. While it may purchase securities of any maturity or duration, under normal circumstances, the advisor expects the portfolio's overall dollar-weighted average effective duration to be less than that of a 3-year U.S. Treasury note.