Fund Description

The fund seeks total return with lower volatility than equity markets. Under normal circumstances, it invests at least 80% of net assets (plus any borrowings for investment purposes) in equity securities and securities with stock- or equity market-like characteristics. It holds a broadly diversified equity portfolio and uses option strategies, including writing index call and put options and writing calls on portfolio holdings and on broad-based indexes or ETFs. It may buy put options to offset declines, trade actively and frequently, and invest in U.S. exchange-listed stocks, ADRs, fixed-income securities, and ETFs. It may use derivatives for hedging or non-hedging, including currency hedges via forwards, futures, or other derivatives, guided by a top-down diversification approach.