The prospectus states the objective is total return primarily from income. Under normal conditions the Fund invests at least 80% of net assets in trade finance related securities: loans and similar instruments financing cross-border trade and late-stage project finance, including pre-export, commodity and receivables finance, funded letters of credit and other negotiable instruments, mainly in or exposed to emerging markets. Positions are often unrated or below investment grade and are generally held to maturity, with an expected average maturity of 24 months or less. Up to 20% may go to other fixed income and money market instruments; currency forwards are used for hedging.