The investment seeks a high level of current income consistent with liquidity and the preservation of capital. The fund primarily invests in investment-grade, fixed-income securities. Allowable investments consist primarily of U.S. dollar-denominated debt securities that may include, but are not limited to, obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; time deposits, repurchase agreements; and other securities that have debt-like characteristics.