The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. Normally the fund invests at least 80 percent of its assets in bonds and other debt securities (such as those described below), which may be represented by derivatives such as futures contracts and swaps. The fund invests in debt securities (excluding derivatives) rated BBB minus or better or Baa3 or better by Nationally Recognized Statistical Ratings Organizations designated by the funds investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the funds investment adviser, in each case at the time of purchase. The fund also invests in U.S. government securities, money market instruments, and cash and cash equivalents.