The investment seeks maximum total return consistent with preservation of capital and prudent investment management.
The fund normally invests at least 65% of its total assets in a diversified portfolio of fixed income securities of varying maturities. It primarily invests in investment grade debt securities, but may invest up to 10% of its total assets in high yield securities. The fund may invest up to 30% of assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar-denominated securities of foreign issuers. It may invest up to 10% of its total assets in preferred stocks.