The investment seeks to exceed incrementally the total return of the Bloomberg U.S. Aggregate Bond Index (the “Index”) (before the deduction of the fund’s expenses) over a full market cycle. The fund is designed to provide a diversified portfolio of different types of fixed-income securities. The fixed-income securities in which the fund may invest include corporate bonds issued by U.S. and foreign companies, debt securities issued and/or guaranteed as to principal and interest by the U.S. government (or by U.S. government agencies, U.S. government-sponsored enterprises and U.S. government instrumentalities), asset-backed securities.