The investment seeks to achieve a balance of current income and capital appreciation, consistent with a prudent level of risk. The fund invests at least 80% of its net assets, plus borrowings for investment purposes, in debt securities issued by the U.S. government and its agencies and instrumentalities and financial instruments that derive their value from such securities. It seeks to maintain an effective duration of up to two years under normal market conditions. The fund also may invest up to 10% of its total assets in foreign fixed-income securities in developed or emerging market countries.