The fund-of-funds or pool actively invests in debt securities of any credit quality or maturity from around the world. Up to 100% of its assets can be invested in mutual funds and ETFs, and up to 10% of its NAV may be invested in alternative funds. The fund tactically allocates its assets over the short to medium term based on changes in the market outlook and the funds ability to meet the objectives. The fund could hold high-yield bonds between 10% and 20%. As an actively managed fund, the portfolio managers can analyze market and financial data to make buy, sell, and hold decisions at their discretion. As such, the underlying funds may change from time to time. The fund may also hold cash, money market securities, and money market mutual funds. The pool may also engage in derivatives transactions, securities lending, repurchase and reverse repurchase transactions, and short selling transactions.