JUCY

JUCY actively employs a hybrid strategy combining fixed income and equity-linked notes (ELNs) to achieve attractive income and capital appreciation. It primarily invests in low duration US treasuries, including treasury bills and notes, having an investment grade rating and a broad maturity horizon between one month and 20 years. It may also hold securities of US government-sponsored entities (GSEs) such as Fannie Mae, Freddie Mac, FHLBanks, and Farmer Mac to limit credit risk. To a lesser extent, the fund also provides exposure to ELNs using an option writing strategy to generate income, provide recurring cash flow, and enhance the fund's yield. The adviser writes one month out of the money calls primarily on US large-cap indices on a weekly, rolling basis to maintain consistent maturity schedule and reduce timing risk. The strategy may also incorporate option spreads.