The fund aims for positive total return by tactically allocating its exposure to government debt, investment-grade corporate debt and high yield debt. The fund primarily invests in North American fixed income securities but may also invest globally. It is possible the fund may invest in other funds, and/or derivatives, such as options, futures contracts, forward contracts, swaps, and credit derivatives. Holding derivatives may, when appropriate, be used for both hedging and non-hedging purposes, including: (1) hedging market exposure to protect capital, (2) to generate income, (3) hedging against losses from price changes, and/or (4) as a substitute for direct investment. In addition, by using derivatives, a large portion of the funds foreign currency exposure will be hedged back to the Canadian dollar. The fund managers may also enter into securities lending transactions for additional income. Holdings are rebalanced monthly. Any changes in the rebalancing frequency is at the discretion of its investment advisor.