The fund pursues opportunistic exposure to the global debt market by actively investing in a wide range of fixed income securities of any credit quality from around the world. The fund can directly invest in government and corporate fixed income securities. Indirect investment exposure may be obtained through iShares ETFs and/or through the use of derivatives, such as futures contracts, options, swaps, and indexed and inverse floating-rate securities. Although the fund does not target a specific maturity or duration, it will aim to maintain an average portfolio duration between one and five years. The fund may invest up to 10% in preferred securities. It may also invest in CDOs, including up to 15% in CLOs and floating rate loans. High-yield securities may comprise up to 20%. Because of its active management, the final selection of securities is at the full discretion of the adviser.