The investment seeks to deliver a high level of after-tax total return through income and capital appreciation. Under normal circumstances, the fund will invest at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of investment and quarterly) in a portfolio of Credit Investments. It may invest up to 35% in non-municipal securities, including corporate debt securities, non-government mortgage backed and other asset-backed securities, loans, preferred equity, and derivatives. The fund is non-diversified.