The prospectus states the Fund seeks total return with an emphasis on current income. Under normal circumstances it invests at least 80% of net assets plus borrowings in public and private debt securities and in instruments designed to provide exposure to them, across senior floating rate loans, high yield and investment grade corporate bonds, catastrophe bonds, direct access lending, securitized credit and sovereign debt. Securities of any credit quality, maturity or duration are permitted and the Fund may invest at any level of the capital structure. The Sub-Adviser applies a relative value framework, adjusting sector, duration and credit exposure. Private funds relying on Section 3(c)(1) or 3(c)(7) are limited to 10% of total assets.