The investment seeks current income with preservation of capital; capital appreciation is a secondary objective. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in corporate bonds, and in derivatives and other instruments that have economic characteristics similar to such securities. At least 65% of the fund's net assets must be, and up to 100% may be, invested in investment grade securities; securities issued or guaranteed by the U.S. government, its agencies or instrumentalities; commercial paper rated Prime by Moody's or A- or higher by S&P; and cash and cash equivalents.