Strategy. Important Note: All of the funds holdings in bonds, other securities, and derivatives were sold during 2022 and it is expected that the fund will continue to operate by investing exclusively and without limitation in a money market fund or other cash reserves until a decision is made to either close and terminate the fund or recommence the funds performance at a later date. As a result, the fund is no longer pursuing its investment objective or investing in accordance with the investment strategies described below, including the funds 80% investment policy, and its current performance is expected to be based solely on its reserve position. The fund would normally invest at least 80% of its net assets (including any … Show more… Important Note: All of the funds holdings in bonds, other securities, and derivatives were sold during 2022 and it is expected that the fund will continue to operate by investing exclusively and without limitation in a money market fund or other cash reserves until a decision is made to either close and terminate the fund or recommence the funds performance at a later date. As a result, the fund is no longer pursuing its investment objective or investing in accordance with the investment strategies described below, including the funds 80% investment policy, and its current performance is expected to be based solely on its reserve position. The fund would normally invest at least 80% of its net assets (including any borrowings for investment purposes) in securities that are denominated in emerging markets currencies, and in derivative instruments that provide investment exposure to emerging market securities or currencies. Emerging market securities include fixed rate and floating rate bonds that are issued by governments, government agencies, and supranational organizations of, and corporate issuers located in or conducting the predominant part of their business activities in, the emerging market countries of Latin America, Asia, Europe, Africa, and the Middle East. The fund considers frontier markets to be a subset of emerging markets and any investments in frontier markets will be counted toward the funds 80% investment policy. The fund relies on a classification by either JP Morgan or the International Monetary Fund to determine which countries are emerging markets. Investment decisions are based on fundamental research as well as market factors, such as yield and credit quality differences among bonds as well as supply and demand trends and currency values. The fund generally invests in securities where the combination of fixed-income returns and currency exchange rates appears attractive or, if the currency trend is unfavorable, where the adviser believes the currency risk can be minimized through hedging. The fund may purchase bonds of any credit quality and there are no overall limits on the funds investments in bonds that are unrated or rated below investment-grade (also known as junk bonds). There are also no maturity restrictions on the overall portfolio or on individual securities purchased by the fund. Through the use of currency derivative instruments such as forward currency exchange contracts, currency swaps, foreign currency options, and currency futures, the fund has wide flexibility to purchase and sell currencies independently of whether the fund owns securities in those currencies and to engage in currency hedging transactions. The funds currency positions will vary with its outlook on the strength or weakness of one foreign currency compared to another foreign currency and the relative value of various foreign currencies to one another. Currency hedging is permitted, but not required, and the fund will normally be heavily exposed to foreign currencies. The fund may take a short position in a currency, which allows the fund to sell a currency in excess of the value of its holdings denominated in that currency or sell a currency even if it does not hold any assets denominated in the currency. In addition, the fund may use interest rate swaps and futures in order to take long or short positions with respect to its exposure to a particular country or bond market, subject to the investment restrictions applicable to futures and swaps. The fund is nondiversified, meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a diversified fund. Show less