CGMS

CGMS offers exposure to the US corporate bonds market. The portfolio typically allocates to three primary sectors: high-yield and investment grade corporate bonds, and securitized debt. These include bonds and other debt instruments, including derivatives of any duration or maturity. Allocations to the credit sectors are based on market conditions and the adviser's assessment of their relative attractiveness as investment opportunities. The fund may invest substantially in high-yield bonds (i.e., securities rated Ba1 or below and BB+ or below), allocate up to 20% of its assets to non-US securities, and opportunistically invest in other credit sectors, such as US government bonds, municipal debt, and other non-corporate credit, in response to market conditions. As an actively managed fund, the adviser has full discretion to determine the amount and combination of investments to meet its objectives.