The investment seeks total return. The fund seeks to achieve its investment objective by investing primarily in a combination of long and short positions in equity and fixed-income securities which includes common stocks, corporate bonds, floating rate loans, municipal securities, preferred stocks, shares of open-end and closed-end investment companies and exchange-traded funds (“ETFs”), futures contracts, options on futures contracts and U.S. Treasury instruments. It typically invests in U.S. Treasuries with maturities of any duration, or futures on such U.S. Treasuries.