The objective of the Fund is to seek high income and long-term growth in USD from an actively managed portfolio of high yield bonds (i.e. bonds which are rated sub-investment grade as determined by the Benchmark provider based on the average of Moody's, Standard & Poor's and Fitch) that are mainly issued by US companies and denominated in USD, such as fixed rate bonds, floating rate bonds, convertible bonds not including contingent convertible bonds, callable bonds and perpetual bonds. The Fund may also invest in 144A securities where considered to offer the best opportunity for the Fund, and may be fully invested in these securities. The selection of debt securities is not exclusively and mechanically based on their publicly available credit ratings but also on an internal credit or market risk analysis. The decision to buy or sell securities is also based on other analysis criteria of the Investment Manager.