| Investment Objective: |
The Fund is an actively managed ETF that by investing in convertible bonds seeks to maximize total return comprising current income and capital appreciation and preserve principal. The Fund seeks to invest in convertible bonds of issuers that have strong growth characteristics, as determined by Wellesley Asset Management, Inc. ("Wellesley"), the investment advisor to the Fund. The Fund invests at least 80% of its assets in convertible bonds. The Fund defines convertible bonds as including synthetic convertible bonds and other securities that Wellesley identifies as having characteristics similar to convertible bonds, including any combination of bonds, options, index-linked securities, debt and equity instruments that Wellesley believes have convertible bond-like characteristics. The Fund primarily invests in convertible bonds of companies that are domiciled in US. The Fund may invest in convertible bonds issued by companies in a variety of sectors. |
