The fund invests mainly in non-CAD-denominated fixed income securities of varying maturities. The fund is actively-managed and aims to maximize current income consistent with capital preservation, while limiting exposure to changes in interest rates. PLDI will maintain consistent levels of income by investing in a broad array of fixed income sectors and utilizing income efficient implementation strategies. The funds average portfolio duration ranges from 0-3 years. The portfolio can allocate a maximum of 25% in high yield securities and up to 15% in emerging markets. There is no limit on the number of securities denominated in foreign currency. PLDIs base currency is USD, it will normally hedge its non-USD currency exposure and limit it to 10% of its total assets.