The fund actively and primarily invests in a portfolio of investment-grade preferred securities from developed markets specifically in the US and Canada. The advisor uses fundamental research and credit analysis in selecting securities and determining the relative weights of each security. In seeking to manage risk, the fund may temporarily hold cash and/or money market instruments up to 20% of the portfolio. Since the fund is actively managed, allocation and maturity is at the discretion of the manager specially during sluggish market periods. The fund is designed for investors who are seeking dividend income and capital preservation from a diversified portfolio delivering efficient exposure to the potential of North American preferred stocks.