AVGB

The fund seeks to maximize total return. The fund invests primarily in investment grade quality debt obligations from a diverse group of U.S. and non-U.S. issuers. The fund's investment process uses an analytical framework, which includes an assessment of securities' expected income and capital appreciation, to seek securities with high expected returns. The portfolio managers use factors such as industry sector, credit rating, duration, country, and currency to categorize fixed income securities into component groups. Fixed income securities in which the fund may invest as part of its principal strategy are corporate bonds and notes issued by U.S. and foreign corporations, securities issued by governments and their agencies, instrumentalities, or sponsored corporations including supranational organizations. The fund's assets will be invested primarily in debt securities of issuers located in developed countries world-wide (including the United States). Generally, the fund expects to maintain a weighted average duration between 3 and 5 years.