Strategy. Under normal circumstances, we invest: at least 80% of the Funds net assets in investment-grade debt securities; and up to 20% of the Funds total assets in U.S. dollar-denominated debt securities of foreign issuers. We invest principally in investment-grade debt securities, including corporate, municipal, mortgage- and asset-backed securities and U.S. Government obligations. These securities may have fixed, floating or variable rates and may include debt securities of both domestic and developed market foreign issuers. We may also use futures to manage risk, to enhance return or as a substitute for purchasing the underlying security. While we may purchase securities of any maturity or duration, under normal circumstances, we expect to maintain an overall portfolio dollar-weighted average effective duration that is … Show more… Under normal circumstances, we invest: at least 80% of the Funds net assets in investment-grade debt securities; and up to 20% of the Funds total assets in U.S. dollar-denominated debt securities of foreign issuers. We invest principally in investment-grade debt securities, including corporate, municipal, mortgage- and asset-backed securities and U.S. Government obligations. These securities may have fixed, floating or variable rates and may include debt securities of both domestic and developed market foreign issuers. We may also use futures to manage risk, to enhance return or as a substitute for purchasing the underlying security. While we may purchase securities of any maturity or duration, under normal circumstances, we expect to maintain an overall portfolio dollar-weighted average effective duration that is within 20% of that of the Funds benchmark. The Funds benchmark, the Bloomberg U.S. Aggregate Bond index, had a duration of [duration] years, as of November 30, 2025. Dollar-Weighted Average Effective Duration is an aggregate measure of the sensitivity of a funds fixed income portfolio securities to changes in interest rates. As a general matter, the price of a fixed income security with a longer effective duration will fluctuate more in response to changes in interest rates than the price of a fixed income security with a shorter effective duration. Fundamental research and relative value analysis are the cornerstones of our investment decision making process. We employ techniques with particular emphasis on high-quality securities, broad diversification, adequate liquidity, controlling interest rate risk (duration) and a disciplined risk management and investment process designed to identify the best fundamental values across eligible fixed income sectors. Show less