The Trust seeks to provide both current income and capital appreciation by investing primarily in the following categories of securities and instruments: (i) secured and unsecured floating and fixed rate loans; (ii) bonds and other debt obligations; (iii) debt obligations of stressed, distressed and bankrupt issuers; (iv) structured products, including but not limited to, mortgage-backed and other asset-backed securities and collateralized debt obligations; and (v) equities. The trust may employ various trading strategies, including but not limited to, capital structure arbitrage, pair trades and shorting and through investing in derivatives of the aforementioned categories. Under normal market conditions, at least 80% of the Trusts assets will be invested in one or more of these principal investment strategies. These invest objectives may be changed without shareholder approval.
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