Fund Description

The fund, under normal circumstances, invests at least 80% of net assets plus borrowings in a broadly diversified portfolio of U.S. and foreign investment grade and non-investment grade bonds and other fixed income investments, with no maturity limits. Holdings may include U.S. Government and non-U.S. sovereign debt, agency and corporate debt, mortgage- and asset-backed securities (including CLOs), municipals, custodial receipts, loan participations and assignments (including Senior Loans and Second Lien Loans), and convertibles; it may also invest in preferred stock and non-U.S. dollar securities, including emerging markets debt. The strategy invests tactically across the global fixed income universe and attempts to exploit pricing anomalies throughout the global fixed income and currency markets. It may use derivatives, forward currency transactions, reverse repos, TBA agreements and short positions for investment and hedging, may invest via ETFs, may integrate ESG factors, and is benchmarked to the ICE BofAML Three-Month U.S. Treasury Bill Index.