Strategy. Under normal conditions, at least 50% of the Funds total assets will be invested in U.S. government obligations, mortgage and asset-backed securities, corporate and municipal bonds, collateralized mortgage obligations (CMOs), certificates of deposit linked to an index. The securities purchased will be rated BBB or better by either Fitch Ratings (Fitch), or Moodys Investors Service (Moodys), or other equivalently rated nationally recognized organization (NRSRO). Further, under normal conditions, up to 20% of the Funds total assets will be invested in below investment-grade fixed income securities, commonly referred to as high-yield or junk bonds. The Fund may invest up to 25% of its assets in foreign debt securities denominated in U.S. dollars and foreign currencies. These include foreign fixed income securities … Show more… Under normal conditions, at least 50% of the Funds total assets will be invested in U.S. government obligations, mortgage and asset-backed securities, corporate and municipal bonds, collateralized mortgage obligations (CMOs), certificates of deposit linked to an index. The securities purchased will be rated BBB or better by either Fitch Ratings (Fitch), or Moodys Investors Service (Moodys), or other equivalently rated nationally recognized organization (NRSRO). Further, under normal conditions, up to 20% of the Funds total assets will be invested in below investment-grade fixed income securities, commonly referred to as high-yield or junk bonds. The Fund may invest up to 25% of its assets in foreign debt securities denominated in U.S. dollars and foreign currencies. These include foreign fixed income securities issued by corporations and governments and emerging market fixed income securities issued by corporations and governments. The Fund will invest in fixed income securities through exchange-traded funds ("ETFs") and mutual funds (collectively, the "Underlying Funds") that are not affiliated with the Fund or the advisor. The Fund will invest in ETFs as it may be more cost efficient than investing in individual fixed income securities while gaining exposure to a particular sector or index. An ETF is typically a registered investment company that seeks to track the performance of a particular market index. These indices include not only broad-market indices, but more specific indices as well, including those relating to particular sectors, markets, regions, or industries. An ETF is traded like a stock on a securities exchange and may be purchased and sold throughout the day based on its market price. When deciding whether to purchase or sell a particular security, the Advisor considers an appraisal of the economy, the relative yields of securities and the investment prospects for issuers. The Advisor also carefully assesses the particular securitys yield-to-maturity, credit quality, liquidity, call risk and current yield. The Fund will invest in a broad range of fixed income instruments without benchmark constraints or significant sector/instrument limitations. Show less