The investment seeks long-term risk adjusted total net return. The Portfolio seeks to achieve its investment objective by investing in a broad range of fixed income securities and other instruments that the Portfolio managers believe will optimize the risk-return profile of the Portfolio. It will invest at least 80% of its net assets (plus borrowings made for investment purposes) in bonds and other fixed income securities, including derivative instruments that provide synthetic exposure to fixed income securities. The Portfolio will not invest more than 20% of its assets in securities which at the time of acquisition carry a rating below investment grade.