The prospectus states the fund seeks high current income and, to a lesser extent, capital appreciation by investing at least 80% of net assets in asset-based lending investments: loans and securities secured by assets. Target sectors are healthcare loans and royalties, aviation and shipping, residential and commercial real estate lending, consumer loans, corporate asset-based credit, equipment, and securitized credit (RMBS, CMBS, CLOs, ABS). It may originate senior, junior, mezzanine and unsecured debt, buy distressed and nonperforming loans, and invest through wholly owned subsidiaries. Borrowings are limited to 33 1/3% of total assets.