About: It is a diversified investment company that seeks a high level of current income. As a secondary objective it seeks to preserve capital. It will invest primarily in mortgage-backed securities (MBS) of residential and commercial loans. These securities may be issued by government agencies, private originators or issuers, in the form of pass-through certificates, collateralised mortgage obligations, residential mortgage-backed securities or commercial mortgage-backed securities. Normally it will invest at least 80% of its managed assets in MBS. It may invest up to 20% in US government securities, or cash or other short-term instruments, and may invest up to 10% in other mortgage-related assets that represent interest in real estate. It will invest all of its managed assets in investment grade quality securities that are rated within the three highest investment grades.
Tags: Asset Management Financial Services