The Fund is actively managed in reference to the ICE BofA Developed Markets High Yield Index (USD Hedged) (HYDM) in order to capture opportunities in the developed high yield bond market. The Fund will invest primarily in high yield corporate bonds that are mainly listed or traded on global developed markets and denominated in USD, CAD, GBP and EUR (exposure of the Fund's assets in non-USD currency will be hedged against USD) such as fixed rate bonds, floating rate bonds, convertible bonds, callable bonds.