The Fund invests in credit and equity, with a bottom-up value approach and top-down macro overlay. It is positively correlated to equity markets, showing a long bias but the investments process and risk management are designed to limit downside exposure and maximize upside. Active risk management emphasizing capital preservation and capital growth, with a total return focus. Experienced team of portfolio managers of approx 20 years. Prior to August 11, 2012 the fund was a managed account.