The investment seeks overall total return consisting of a high level of current income together with long-term capital appreciation. The fund seeks to achieve its objective by investing primarily in high yield credit instruments, with a focus on “middle market” issuers in the United States and, to a much lesser extent, Canada. Under normal conditions, it invests at least 80% of its managed assets in credit instruments and other investments with similar economic characteristics, including convertible debt. “Managed Assets” means the total assets of the fund minus the sum of the fund’s accrued liabilities. The fund is non-diversified.