Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in marketable investment grade debt securities, which are those securities rated BBB- or higher by S&P, Baa3 or higher by Moodys, or the equivalent by any other nationally recognized statistical rating organization (NRSRO), or, if unrated, determined by the Adviser to be of comparable quality. The remaining assets are generally invested in other securities, including mortgage-backed and asset-backed securities, high yield securities (junk bonds) rated below investment grade by a NRSRO, or, if unrated, determined by the Adviser to be below investment grade, or money market securities. Most assets will typically be invested in U.S. dollar-denominated bonds. The … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in marketable investment grade debt securities, which are those securities rated BBB- or higher by S&P, Baa3 or higher by Moodys, or the equivalent by any other nationally recognized statistical rating organization (NRSRO), or, if unrated, determined by the Adviser to be of comparable quality. The remaining assets are generally invested in other securities, including mortgage-backed and asset-backed securities, high yield securities (junk bonds) rated below investment grade by a NRSRO, or, if unrated, determined by the Adviser to be below investment grade, or money market securities. Most assets will typically be invested in U.S. dollar-denominated bonds. The Fund may invest in derivative instruments, such as futures contracts, in keeping with the Funds objective. The Adviser follows an actively managed, total-return oriented approach and seeks to find securities that are under-valued in the marketplace based on both a relative value analysis of individual securities combined with an analysis of macro-economic factors. With this approach, the Adviser attempts to identify securities that are under-valued based on their quality, maturity, and sector in the marketplace. The Adviser will purchase an individual security when doing so is also consistent with its macro-economic outlook, including its forecast of interest rates and its analysis of the yield curve (a measure of interest rates of securities with the same quality, but different maturities). In addition, the Adviser will seek to opportunistically purchase securities to take advantage of inefficiencies of prices in the securities markets. The Adviser will sell a security when it believes that the security has been fully priced. The Adviser may engage in active and frequent trading of portfolio securities in pursuit of the Funds investment objective. The Adviser seeks to reduce credit risk by diversifying among many issuers and different types of securities. The average portfolio duration of this Fund normally varies within two years (plus or minus) of the duration of the Bloomberg U.S. Aggregate Bond Index, as calculated by the Adviser. The average duration of the Bloomberg U.S. Aggregate Bond Index, as of March 31, 2025, was 6.01 years. Duration is a measure used to determine the sensitivity of a debt security to changes in interest rates. Generally, the longer the maturity or duration of a fixed income security (or fixed income portfolio), the more sensitive it will be to interest rate changes. Show less