The prospectus states the Fund seeks total return through current income and capital appreciation, investing at least 80% of net assets in domestic credit instruments and loans: residential and commercial MBS and mortgage loans, other ABS, structured credit (CMOs, CDOs, CLOs opportunistically) and corporate debt. It concentrates 25% or more in mortgage-related and U.S. consumer credit, may invest without limit in high yield, distressed and unrated paper across prime to subprime borrowers, and may hedge with Treasury futures, swaps and credit derivatives.