The investment seeks a high level of current income; the secondary investment objective is the preservation of shareholders' capital. The fund invests primarily in publicly-traded, investment-grade debt securities. Under normal circumstances, at least 80% of the fund's total assets are invested in investment-grade securities issued by U.S. corporations or by the U.S. government or its agencies, such as bonds, notes, debentures, zero coupon securities and mortgage-backed securities. Bonds are debt instruments that can be issued by the federal government, government agencies and subdivisions, states, cities, corporations and other institutions.