At the time of purchase, the fund limits its exposure to collateralized loan obligations (CLOs) rated below investment grade (BB+ or lower), or those unrated but assessed by the Adviser as having comparable credit quality, to a maximum of 15% of its net assets. Its core strategy involves investing primarily in U.S. dollar-denominated CLOs. The use of derivatives is solely for the purpose of hedging against risks within the fund's existing CLO portfolio.