The Fund seeks to achieve its investment objective by primarily investing in a portfolio of investment grade, short-term fixed, variable and floating-rate securities. The Fund is not a money market fund and does not seek to maintain a stable net asset value. The Fund is actively managed, not designed to track a benchmark, and therefore not constrained by the composition of a benchmark. Under normal circumstances, the Funds weighted average portfolio duration will be one year or less. In certain market or economic conditions, such as in periods of significant volatility in interest rates and spreads, the Funds weighted average portfolio duration may be longer than one year. The Fund seeks to manage duration and hedge interest rate risk through the purchase and sale of U.S. Treasury securities. During periods when the Funds weighted average portfolio duration is longer than one year, the Fund may not achieve its investment objective.