Guggenheim Partners

Fund Investment Objectives

This Opportunistic Investment Grade Securities Fund (the "Fund") has a projected investment horizon of approximately three to five years, which is about the market cycle for opportunistic structured products at this time. In the current market environment, we believe there are still dislocations particularly in the asset-backed securities market which has remained fractured since the disruptions of 2008, and continue to provide opportunity given global deleveraging and structured credit cash reduction. The Fund expects to invest primarily in Asset Backed Securities ("ABS"), Commercial Mortgage Backed Securities ("CMBS") and Residential Mortgage Backed Securities ("RMBS"). The Fund may invest in other securities, including collateralized obligations such as collateralized loan obligations ("CLOs") and collateralized debt obligations ("CDOs"), and credit and other derivatives, such as swaps, options and forward contracts and futures. Investments may also include performing and non-performing real estate assets, including mortgage loans and mortgage-backed securities. The portion of the Fund's assets invested in ABS, CMBS, RMBS and other securities is expected to vary over time based on prevailing opportunities and market conditions as determined by Guggenheim. The Fund will seek to exploit pricing inefficiencies as market participants seek to liquidate a variety of assets, and where Guggenheim perceives relative mispricing in these markets. Guggenheim believes that high quality assets will be sold by many investors due to capital needs, margin calls or forced liquidations and the Fund will seek to take advantage of these opportunities as they arise. The Fund may also invest in new issue opportunities that may arise given the lack of traditional and historical borrowing sources. In addition, the Fund may invest in transactions that may be originated by one or more affiliates of Guggenheim.