The investment seeks to provide current income consistent with preservation of capital and liquidity. The fund's manager invests at least 99.5% of its total assets in cash, government securities, and repurchase agreements collateralized by cash or government securities. In addition, under normal market conditions, at least 80% of the fund’s net assets (plus any borrowings for investment purposes) will be invested in direct obligations of the U.S. treasury and other securities issued or guaranteed as to principal and interest by the U.S. government or its agencies and instrumentalities, as well as repurchase agreements secured by those obligations.