The Prospectus states the Fund's primary objective is high current income, with capital gains as a secondary objective. It invests mainly in Portfolio Debt Securities: debt and preferred equity issued by funds and investment vehicles (BDCs, registered closed-end funds, private funds, REITs, collateralized fund obligations and rated feeder funds) to finance their portfolios, originated by Eagle Point or bought in the secondary market. It may also hold secured and unsecured debt, CLOs, high-yield and other credit of any rating, duration or maturity. The Fund uses leverage through a bank credit facility and term preferred shares, and may use derivatives for exposure or hedging under the Rule 18f-4 limited derivatives user exception.