|One Franklin Pkwy , San Mateo, CA 94403|
|Fund Manager||S. Kenneth Leech|
|Manager Tenure||8 Years|
Maximize total return.Under normal circumstances, the fund seeks to achieve its investment objective by implementing an opportunistic investing strategy.The fund attempts to identify and capitalize on attractive relative-value opportunities principally in fixed income markets around the globe by investing in a variety of securities and other instruments (for example,by comparing spreads with a subadviserâ€™s assessment of an issuerâ€™s credit worthiness or byseeking to profit from the relative values of two related financial instruments by taking a single long or short position or by taking a long position with respect to one and a short position with respect to the other).Although the fund does not expect to invest in individual equities it may also invest inequity-related strategies,such as equity index futures and swaps,to the extent a subadviser believes those strategies are consistent with the fundâ€™s overall objective and strategy.The fundâ€™s trading strategy is expected to include positions based on longer-term outlooks,such as the subadvisersâ€™views on long-term macroeconomic themes,and shorter-term circumstances.The fund has fewer restrictions than other fixed income funds andexpects to trade actively.The fund may enter into various derivative transactions for both hedging and non-hedging purposes,including for purposes of enhancing returns.These derivative transactions include, but are not limited to,futures,options,swaps and foreign currency futures, forwards and options.In particular,the fund may use certain derivatives,including bond and interest rate futures,options on bonds,options on bond and interest rate futures,interest rate options,interest rate swaps,credit default swaps (on individual securities and/or baskets of securities),other options (including options on credit default swaps and options on currency forwards,futures and swaps),other futures, swaps,forwards,options on swaps,options on forwards,and mortgage-backed securities to a significant extent,although the amounts invested in these instruments may change from time to time.Non-dollar securities may be held on a currency-hedged or-unhedged basis.The fund may engage (although it may choose not to) in currency exchange transactions to protect against uncertainty in the level of future exchange rates or to enhance returns.The fund may also engage in short sales or may otherwise hold short positions.The derivatives used by the fund may represent a form of investment leverage in that the potential exposure of the fund may exceed its net assets.See â€œLeveraging Riskâ€ below for further discussion of related risks.Although the fund may invest in securities of any maturity,the fund will normally maintain a dollar-weighted average effective duration (including futures positions),as estimated by the fundâ€™s subadvisers,within the range of -5 to 10 years.Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates,taking into account the anticipated effects of structural complexities (for example, some bonds can be prepaid by the issuer).The fund may invest in debt and fixed income securities of any credit quality,including securities that are in default.In addition,under normal circumstances,at the time of purchase: â€¢No more than 75% of the fundâ€™s net assets may be invested in non-dollar denominated securities.
|Asset Type||% Of Allocation|
|Total Net Assets||43.70 M|
|Criteria||3 Years||5 Years||10 Years|
|Minimum Initial IRA||$250|
|Timeframe||Average Annual Current Performance Monthly As Of 08/31/2021||Average Annual Current Performance Quarterly As Of 05/31/2021||Avg Annual Current Performance Monthly As Of 08/31/2021||Avg Annual Current Performance Quarterly As Of 05/31/2021|
|Life Of Fund||
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