The fund seeks income with a potential for capital appreciation by primarily investing in fixed income ETFs and other funds, which may be managed by the manager. The underlying funds provide exposure to a broad range of debt securities of issuers from around the world, diversified by sector, geography, credit quality, duration, and currency. Exposure to non-investment-grade issues is typically ranged between 5% and 25%, which includes high-yield corporate bonds and certain emerging market sovereign bonds. The fund may also invest directly in fixed income securities or indirectly through the use of derivatives.