Investment Approach
The Fund seeks to outperform the total return of the Merrill Lynch 1-Year U.S. Treasury Note Index (the Fund’s “benchmark”) through an actively managed diversified portfolio of securities. The Fund’s Portfolio Managers will emphasize individual security selection, as well as shifts in the Fund’s portfolio among market sectors. In addition, the Managers will also actively manage the Fund’s average duration relative to the Benchmark.
- Primary emphasis on quality, liquidity and diversification.
- The broad sectors represented in the portfolio will include corporate debt securities issued by domestic and foreign companies, mortgage-backed securities and asset-backed securities.
- The Fund will invest exclusively in investment grade securities rated in the highest three categories at time of purchase by at least one of the following three nationally recognized statistical rating organizations: Fitch Ratings, Moody’s Investors Service, Inc. and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.
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