The Fund will seek to achieve, The Fund invests, under normal circumstances, at least 80 percent of its net assets plus any borrowings for investment purposes (Net Assets) in bonds and other fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (U.S. Government Securities), including agency issued adjustable rate and fixed rate mortgage-backed securities or other mortgage-related securities (Agency Mortgage-Backed Securities), corporate debt securities, privately issued adjustable rate and fixed rate mortgage-backed securities or other mortgage-related securities (Private Mortgage-Backed Securities and, together with Agency Mortgage-Backed Securities, Mortgage-Backed Securities), asset-backed securities (including collateralized loan obligations (CLOs)), high yield non-investment grade securities (securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (NRSRO) or, if unrated, determined by the Investment Adviser to be of comparable credit quality). A fixed income security is a debt instrument issued by a company, government or other entity to borrow money.