The investment seeks current income consistent with the maintenance of principal and liquidity. The fund manager pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets in fixed income securities that are rated investment grade or equivalent by a NRSO's or, if a security is unrated, that the fund’s investment adviser considers to be of comparable quality. Fixed income securities in which the fund invests include U.S. government debt, U.S. government agency debt, taxable municipal bonds, corporate debt, non-corporate debt, and mortgage and asset backed securities.