The fund's investment profile is heavily weighted toward non-investment grade corporate debt, which accounts for over 50% of the portfolio. Among the top ten fixed-income holdings, U.S. Treasury Notes lead the allocation at 1.10%, followed by Sopaipilla Investor LLC and 1261229 BC Ltd. The portfolio maintains a conservative leverage ratio of 8.67%, driven primarily by investment operations rather than direct bank borrowing.
Geographically, the fund remains concentrated in the United States, which represents 69.44% of the total investment value, followed by exposure to the United Kingdom and Canada. Credit quality metrics indicate a significant tilt toward the BB and B rating categories, which together comprise over 70% of the fund’s assets. With an effective duration of 3.01 years and an average bond maturity of 4.22 years, the fund continues to emphasize short-to-medium-term debt instruments in its search for high-income yield.

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