Industry description
The investment seeks to provide as high a level of current income as is consistent with preservation of capital through investment in bonds and other debt securities.
Under normal circumstances, the fund invests at least 80% of its net assets (including borrowings for investment purposes) in bonds. Bonds include debt securities of any maturity. At least 80% of the fund's net assets are invested in investment grade debt securities. The fund may also invest up to 25% of its net assets in foreign debt securities.