To provide current income consistent with an ultra-short duration profile, focused on preservation of capital.Distinguishing Characteristics The fund invests primarily in U.S. dollar denominated, investment-grade, short-term debt, including short-term money market instruments such as commercial paper and certificates of deposit, U.S. government bonds, corporate securities and asset-backed securities. The fund will normally invest more than 25% of its assets in securities issued by companies in the financials group of industries. The fund may invest substantially in debt securities that are tied economically to countries outside the United States, including securities issued by foreign corporations or foreign governments and their agencies and instrumentalities. The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.The fund will invest at least 80% of its assets in bonds and other debt securities that accrue income, which may be represented by derivatives. The fund consists primarily of investment-grade debt with a minimum short-term rating of P-2, A-2, F2, or a minimum long-term rating of BBB- or Baa3, in each case given by the Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser or unrated but determined to be of equivalent quality by the fund’s investment adviser. The fund may invest up to 5% in debt securities rated BB+ or Ba1 or below, but with a minimum rating of BB- (or Ba3). The fund normally seeks to maintain an average portfolio duration of one year or less, and a dollar-weighted average maturity of two years or less. The fund will normally invest more than 25% of its assets in securities issued by companies in the financials group of industries.