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PONAX

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PONAX aims to deliver high, consistent dividend income with multi-sector bond exposure, including high yield, corporate, government, and asset-backed securities, with currency and emerging markets flexibility. The portfolio adapts duration (0-8 years) responding to rate changes and may allocate significantly to derivatives and foreign currencies. Investments in below-grade securities may reach 50%, excluding certain mortgage-backed securities. Exposure to emerging markets and non-USD currencies is generally capped at 20%.

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