Strategy. Under normal circumstances, at least 80% of the Funds assets will be invested in fixed-income securities. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Fund invests primarily in a diversified mix of U.S. dollar-denominated investment grade fixed-income securities, including U.S. government, corporate, municipal, mortgage- and asset-backed securities. The Fund will ordinarily seek to maintain an average weighted maturity between five and ten years. The Adviser employs a value approach toward fixed-income investing and evaluates the relative attractiveness among corporate, mortgage and U.S. government securities, and also may invest in non-dollar-denominated issues. The Adviser relies upon value measures to guide its decisions regarding sector, security and … Show more… Under normal circumstances, at least 80% of the Funds assets will be invested in fixed-income securities. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Fund invests primarily in a diversified mix of U.S. dollar-denominated investment grade fixed-income securities, including U.S. government, corporate, municipal, mortgage- and asset-backed securities. The Fund will ordinarily seek to maintain an average weighted maturity between five and ten years. The Adviser employs a value approach toward fixed-income investing and evaluates the relative attractiveness among corporate, mortgage and U.S. government securities, and also may invest in non-dollar-denominated issues. The Adviser relies upon value measures to guide its decisions regarding sector, security and country selection, such as the relative attractiveness of the extra yield offered by securities other than those issued by the U.S. Treasury. The Adviser also measures various types of risk by monitoring interest rates, inflation, the shape of the yield curve, credit risk, prepayment risk, country risk and currency valuations. The Fund may engage in frequent trading to achieve its investment objective. The Funds investment process incorporates information about environmental, social and governance issues (also referred to as ESG) via an integrated approach within the investment teams fundamental investment analysis framework. The Adviser may engage with management of certain issuers regarding corporate governance practices as well as what the Adviser deems to be materially important environmental and/or social issues facing a company. The Fund may invest opportunistically in fixed-income securities that are rated below investment grade or are not rated, but are of equivalent quality. These fixed-income securities are often referred to as high yield securities or junk bonds. High yield securities are fixed-income securities rated by one or more rating agencies below Baa3 by Moodys Investors Service, Inc. (Moodys), below BBB- by S&P Global Ratings Group, a division of S&P Global Inc. (S&P), below BBB- by Fitch Ratings, Inc. (Fitch) or, if unrated, considered by the Adviser to be of equivalent quality. ?The Fund may also invest in loan-related investments, such as public bank loans made by banks or other financial institutions and loan participations and assignments, which may be rated investment grade or below investment grade. In addition, the Fund may invest in convertible securities. The Funds mortgage securities may include collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBS), stripped mortgage-backed securities (SMBS) and inverse floating rate obligations (inverse floaters). In addition, the Fund may invest in to-be-announced pass-through mortgage securities, which settle on a delayed delivery basis (TBAs). The Fund may also invest in securities of foreign issuers, including issuers located in emerging market or developing countries. The securities in which the Fund may invest may be denominated in U.S. dollars or in currencies other than U.S. dollars. The Fund may also invest in restricted and illiquid securities. The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Funds use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Funds 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy. Show less