The investment seeks current income. The fund will invest at least 80% of its total assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of fixed income securities. It will normally be constructed with an average duration of three years or less. The fund primarily invests in bonds, debt, fixed income and income-producing instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, junk bonds, corporate debt, foreign securities, inflation-indexed bonds, bank loans and assignments, collateralized loan obligations, preferred securities and SPACs.