The investment seeks to generate current income; its secondary objective is long-term capital appreciation. The fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities and other credit-related investments. For purposes of its 80% policy, "credit-related investments" include equity tranches of collateralized loan obligations ("CLOs"), equity interests in CLO warehouses, funds that invest primarily in debt securities, and derivatives that have similar economic characteristics to debt securities. The fund is non-diversified.