Fund Description

The fund was incepted in November 1993 and is managed by WM Advisors, Inc. The fund seeks to provide a high level of current income consistent with prudent investment management and a high degree of principal stability. To pursue this objective, the fund primarily invests all of its assets in debt securities. The fund may also invest in obligations issued or guaranteed by domestic and foreign governments, government agencies and instrumentalities. The fund may invest up to 10% of its assets in foreign fixed-income securities, primarily bonds of foreign governments or their political subdivisions. The fund may also invest up to 5% of its assets in preferred stock. The fund declares dividends daily and pays it monthly. Capital gains are declared annually.