Industry description
The investment seeks to provide income and long-term growth of capital; a secondary objective of the fund is to limit risk during unfavorable market conditions.
The fund invests in: (1) ETFs and open-end investment companies ("underlying funds"); (2) total return swaps and credit default swaps that use high yield debt instruments or high yield indexes as reference assets; (3) U.S. or foreign fixed-income securities and structured notes; (4) preferred stocks; and (5) mortgage-related fixed income instruments of varying maturities.