Fund Description

The fund primarily implements a hedged convertible strategy by investing in convertible securities, including convertible preferreds, and establishing short positions or hedges in the common stock or ADRs of the same issuers to reduce exposure to equity price declines on a security-by-security basis. It may also use ETFs, options (including non-deliverable options) and foreign currency forwards to reduce unwanted exposures. It can invest across investment-grade, high-yield and unrated securities, as well as non-convertible bonds and preferreds, and may use derivatives and covered-call writing. Foreign currency exposure is typically hedged to the U.S. dollar.