Fund Description

The fund invests at least 80% of net assets plus borrowings in investments the advisor believes provide exposure to real assets, including listed real estate, commodities (commodity futures), natural resource-related equities, listed infrastructure, gold and other precious metals, MLPs, TIPS and other fixed income; sector exposures may change over time. It generally invests 15%-75% in foreign issuers, including up to 10% in emerging markets, and may invest up to 10% in ETFs. It may use a Cayman subsidiary (up to 25% of total assets) for commodity-linked futures and related fixed income, invest in fixed income of any quality, maturity or duration, use derivatives for hedging, risk management, gain enhancement or cash management, and lend securities up to one-third of total assets.