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The fund-of-funds offers diversified exposure to the corporate bond markets. The portfolio primarily holds debt securities issued by North American companies. Although, at times, the fund may invest a significant portion (generally less than 50%) of its assets in corporate bonds outside North America. The portfolio manager uses a fundamental analysis to select securities and reviews holdings on an ongoing basis, considering credit quality and diversification by geographic region, industry sector, and size of issuer. The fund may invest a portion of its assets in government bonds issued by developed and emerging markets countries, up to 10% in income-producing equity securities, and up to 30% in shares of other investment funds. The funds corporate bonds investments are expected to have a weighted average credit rating of between B- and BBB+. Additionally, the fund may enter into securities lending, engage in short selling, and use derivatives for hedging and non-hedging purposes.