Strategy. The Fund will seek capital appreciation and current income in its attempt to maximize total return. In doing so, the Fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities. These may include: ? Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises, including obligations that are issued by private issuers that are guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities; ? Obligations of U.S. state and local governments, and foreign governments; ? Obligations of domestic and foreign banks and corporations; ? Zero coupon bonds, debentures, convertible securities and loan participations; ? Mortgage and other asset-backed securities; ? Inflation-indexed securities; and ? … Show more… The Fund will seek capital appreciation and current income in its attempt to maximize total return. In doing so, the Fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities. These may include: ? Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises, including obligations that are issued by private issuers that are guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities; ? Obligations of U.S. state and local governments, and foreign governments; ? Obligations of domestic and foreign banks and corporations; ? Zero coupon bonds, debentures, convertible securities and loan participations; ? Mortgage and other asset-backed securities; ? Inflation-indexed securities; and ? Stripped securities evidencing ownership of future interest or principal payments on debt obligations. The Fund may also seek to obtain exposure to these securities through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (ETFs). The Fund primarily invests in investment grade domestic debt obligations (i.e., obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (NRSRO) or of comparable quality as determined by NTI). However, the Fund may invest up to 20% of its total assets in domestic and foreign debt obligations that are rated below-investment grade (commonly referred to as junk bonds). Credit ratings are determined at the time of purchase. The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933. The Fund may seek to obtain exposure to mortgage-backed and mortgage-related securities (collectively, MBS) through to-be-announced (TBA) transactions. Most transactions in MBS occur through TBA transactions, which are standardized contracts for future delivery in which the exact mortgage pools to be delivered are not specified until a few days prior to settlement. In buying and selling securities for the Fund, NTI uses a relative value approach. This approach involves an analysis of general economic and market conditions. It also involves the use of models that analyze and compare expected returns and assumed risks. Under the relative value approach, NTI will emphasize particular securities and types of securities (such as treasury, agency, asset-backed, mortgage-related and corporate securities) that the team believes will provide a favorable return in light of these risks. The Funds dollar-weighted average maturity, under normal circumstances, will range between three and fifteen years. From time to time the Fund may have a focused investment (i.e., investment exposure comprising more than 15% of its total assets) in one or more particular sectors. As of March 31, 2025, the Fund had focused investments in the financials and industrials sectors. NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund. In seeking to achieve its investment objective, the Fund may invest in U.S. Treasury futures, which are considered to be derivative instruments, for various purposes, including to manage duration, credit and interest rate risks, and for cash management. Show less