The fund invests in a diversified portfolio of bonds and other debt instruments. The fund has considerable flexibility in seeking strong returns and its portfolio is constructed with a goal of being able to respond to a wide variety of market conditions. The funds investments typically include, but are not limited to, debt instruments issued by the U.S. government and its agencies such as U.S. Treasury securities, corporate bonds, bank loans which represent an interest in amounts owed by a borrower to a syndicate of lenders, and various types of mortgage-backed and asset-backed securities.