Investment Objective
The fund seeks as favorable a long-term total return through income as is consistent with preserving capital, primarily from investment-grade, fixed-income securities.
Portfolio Strategy
The fund invests at least 80% of its assets in investment-grade bonds and other bonds. The fund also invests in other fixed income securities. Bonds of this type may include U.S. government securities, corporate bonds and mortgage-backed or other asset-backed securities. The fund overweights or underweights individual securities or sectors relative to its benchmark index when we believe that we can take advantage of what appear to be undervalued, overlooked or misunderstood issuers that offer the potential to boost returns above that of the index. The fund is managed to maintain a duration that is similar to that of its benchmark index. The fund may invest up to 15% of its total assets in fixed-income securities of foreign issuers. The benchmark index for the fund is the Lehman Brothers U.S. Aggregate Index.
Top 10 holdingsas of
09/30/2008
| Company Name | % Assets | |
| 1 | U.S. Treasury Note 1.875%, 4/30/2014 | 4.01 |
| 2 | U.S. Treasury Note 3.625%, 8/15/2019 | 2.24 |
| 3 | FNMA 5.000%, 9/01/2034 | 1.96 |
| 4 | FHLMC 2.125%, 9/21/2012 | 1.83 |
| 5 | FNMA 4.500%, 4/01/2039 | 1.82 |
| 6 | FNMA 4.563%, 1/01/2015 | 1.53 |
| 7 | FHLMC 5.125%, 10/18/2016 | 1.51 |
| 8 | FNMA 5.500%, 2/01/2038 | 1.48 |
| 9 | U.S. Treasury Note 2.250%, 5/31/2014 | 1.47 |
| 10 | U.S. Treasury Note 2.375%, 9/30/2014 | 1.37 |
portfolio analysis
The Fund is subject to interest rate risk, call risk as well as company risk.
The holdings information provided above is as of
the date indicated, and may not reflect the current holdings of this fund.
C41011