The fund aims to provide equity-like returns, mainly from perceived credit opportunities. The portfolio is actively managed using potentially a variety of alternative strategies based on global economic and market trends. The funds long positions will primarily be comprised of corporate debt, bonds or bank loans, and equities of non-investment grade issuers. The fund may go short positions in equity or debt securities the manager believes may be overvalued. The portfolio can also be positioned to invest in special situations, including event-driven such as mergers, takeovers, bankruptcies or leveraged buyouts. The fund may pursue pairs trading and a variety of arbitrage strategies. The fund may be best suited for investors with a medium risk tolerance and medium to long-term investment horizon.