| Investment Objective: |
The fund invests at least 80% of its assets in a diversified portfolio of Senior Loans. "Senior Loans" are investments in originated first and second lien loans, delayed draw term loans, revolving credit facilities, and club deals and will include, but are not limited to, senior secured floating rate bank loans. These types of investments are called "senior loans" because they are generally secured by a borrower's assets pursuant to a first or second priority or "senior" lien, ranking above unsecured and subordinated bonds. The fund may invest, without limitation, in high yield investments. The fund may invest in instruments denominated in foreign currencies. The fund may also invest in U.S. dollar-denominated instruments of foreign issuers. The fund currently expects to invest at least 40% of its assets in non-U.S. securities, representing issuers economically tied to a number of European countries. The percentage of assets invested in non-U.S. securities will vary over time. The fund may also invest in collateralized loan obligations, corporate debt securities, (investment grade and high yield), and cash and cash equivalents. |
