The investment seeks maximum current income consistent with the preservation of capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. The fund’s fixed income investments are primarily of investment grade (rated in one of the four highest rating categories by at least one rating agency). The adviser uses a multi-manager approach, relying upon a number of sub-advisers with differing investment philosophies to manage portions of the fund’s portfolio under the general supervision of the Adviser.