The fund invests primarily in investment grade quality debt obligations from a diverse group of U. S. and non-U. S. issuers.

Under normal market conditions, it will invest at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. The fund seeks to maintain a weighted average duration within 2 years of the weighted average duration of its benchmark, the Bloomberg U. S.

Aggregate Bond index, as calculated by the manager.