Investment Rationale

Core fixed income portfolio combined with two niche, hard-to-access, alpha-generating strategies 1
Experienced and proven managers in their respective strategies
Flexible and opportunistic income strategy designed to capitalize on the inefficiencies within the closed-end fund space and fixed income markets including the mortgage-backed securities market
Flexibility to respond to market dynamics
Income and total return investment objective

1 Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta). Beta reflects the sensitivity of a fund's return to fluctuations in the market index.