Under normal market circumstances the Fund will invest at least 75% of its total assets in fixed-income securities, such as bonds, debentures and preferred stock. There is no rating quality limitation for the fixed-income securities, and a substantial portion of the portfolio may be invested in below investment grade securities. Depending on the market conditions, it may invest a substantial portion of its assets in mortgage-backed securities. Up to 25% of its total assets may be invested in money market instruments such as certificates of deposit, commercial paper, bankers acceptances and repurchase agreements.