Industry description
The investment seeks to provide current income and, as a secondary objective, capital appreciation during periods of U.S. corporate credit spread widening.
Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securitized credit investments. It will invest in derivatives, including futures, credit default swaps and other types of swaps, for hedging purposes, for tactical positioning, and to manage duration.