The investment seeks a moderate total rate of return (income plus capital appreciation) on an annual basis. The fund invests in any combination of equity and fixed-income securities based on market conditions and trends and the Sub-adviser's expectations and assessment of risks. It invests in fixed-income securities without any restriction on maturity or creditworthiness, which could range from government securities to Junk Bonds, which are debt securities rated below investment-grade. The fund is nondiversified.