Investment objective & strategy
As of Dec. 20, 2024 · prospectusObjective. To seek total return consisting of income and capital appreciation.
Strategy. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities and money market instruments. The fund invests in debt securities that the manager believes offer attractive yields and are undervalued relative to issues of similar credit quality and interest rate sensitivity. The fund may also invest in unrated bonds that the manager believes are comparable to investment-grade debt securities. The fund may invest to a significant extent in mortgage-backed securities, including collateralized mortgage obligations. Under normal market conditions, the manager expects to maintain an effective duration within 10% (in either direction) … Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities and money market instruments. The fund invests in debt securities that the manager believes offer attractive yields and are undervalued relative to issues of similar credit quality and interest rate sensitivity. The fund may also invest in unrated bonds that the manager believes are comparable to investment-grade debt securities. The fund may invest to a significant extent in mortgage-backed securities, including collateralized mortgage obligations. Under normal market conditions, the manager expects to maintain an effective duration within 10% (in either direction) of the duration of the Bloomberg U.S. Aggregate Bond Index (the duration of this index as of October 31, 2024 was 6.14 years). The fund may invest: ? Up to 25% of total assets in asset-backed securities, other than mortgage-backed securities; ? Up to 20% of total assets in U.S. dollar-denominated obligations of foreign issuers; and ? Up to 10% of total assets in stripped mortgage-backed securities. As part of a mortgage-backed securities investment strategy, the fund may enter into dollar rolls. The fund may also enter into reverse repurchase agreements to enhance return. The funds investment process may, at times, result in a higher than average portfolio turnover ratio and increased trading expenses.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SSC GOVERNMENT MM GVMXX / | 7839989D1010 | $123.09M | 7.24% |
| FNCL 5 3/24 | — | $37.77M | 2.22% |
| US TREASURY N/B | — | $30.30M | 1.78% |
| US TREASURY N/B | — | $27.39M | 1.61% |
| US TREASURY N/B | — | $24.65M | 1.45% |
| US TREASURY N/B | — | $22.98M | 1.35% |
| US TREASURY N/B | — | $20.40M | 1.20% |
| US TREASURY N/B | — | $19.82M | 1.17% |
| US TREASURY N/B | — | $16.80M | 0.99% |
| US TREASURY N/B | — | $15.61M | 0.92% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Core Bond Trust · JVCNX, JADKX, JAAEX | 75% | 0.62% |
| Select Bond Portfolio | 74% | 0.31% |
| Allspring Core Bond Portfolio | 68% | — |
Footnotes
- Expense ratio as of December 20, 2024, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.