The investment seeks to provide shareholders with a level of current income consistent with preservation of capital.
Under normal circumstances, the fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in corporate bonds. It will primarily invest in debt securities with short- and intermediate-term maturities generally similar to those included in the fund's benchmark index. The fund may invest up to 15% of its net assets in securities rated below investment grade (i.e., junk bonds). Up to 25% of the fund's net assets may be invested in foreign investments, including emerging markets.