CLOI

CLOI actively invests in collateralized loan obligations of any maturity, which it may purchase from both primary and secondary markets. The fund invests at least 80% of its assets in investment-grade CLO bonds. CLOI does not invest in securities rated below BB-/Ba3, limiting any high-yield exposure to only the upper end of the spectrum. While the fund targets USD-denominated CLOs, it may invest up to 30% in foreign debt securities. The sub-adviser uses a bottom-up analysis, together with a top-down overlay, to select investments that considers factors such as assessments of the CLO manager, the underlying collateral, performance under various stress scenarios, and analyses of documents and structural terms. The fund may invest in derivatives, cash, or other short-term instruments. The fund may invest up to 10% of its assets in ETFs. The portfolio managers have full discretion to make buy, sell, and hold decisions at any time.