The fund seeks to provide absolute returns with low volatility by tactically managing the portfolio using a mix of top-down macroeconomic analysis, and a bottom-up company and security level analysis. It primarily holds debt instruments across the credit spectrum throughout the world, including cash, government debt, investment grade corporate debt, high yield debt, credit derivatives and other income-producing securities. The fund will use leverage, through cash borrowings, short sales and derivatives, either to maximize returns or mitigate negative returns. The use of leverage must not exceed three times the fund’s net asset. The sub adviser has full flexibility with regards to duration positioning and will seek optimal exposure through changing market conditions – like increasing allocation to government debt during periods of weak economic growth and widening credit spreads, or to corporate debt if otherwise. This flexible approach may result in a higher portfolio turnover rate.