Under typical conditions, this fund commits at least 80% of its assets to fixed-income instruments denominated in U.S. dollars. It is actively managed with the goal of generating long-term returns. Its core investments consist of a variety of high-quality debt securities, including corporate bonds, U.S. Treasury obligations, other U.S. government and agency securities, and various asset-backed, mortgage-related, and mortgage-backed securities. A key requirement for these investments is that they must carry an investment-grade rating from a nationally recognized statistical rating organization, or, if unrated, be judged to be of comparable quality by the fund's advisor, J.P. Morgan Investment Management Inc.