The fund's investment strategy is two-fold: (1) preferred securities: the fund pursues its objective by investing in issues of preferred securities and debt securities that the Adviser believes to be undervalued, and (2) credit spread options on the S&P 500 Index: the fund may expose up to 10% of its assets to a credit spread options strategy however market conditions may dictate additional exposure. It seeks to achieve a credit spread on the S&P 500 Index by selling/writing an out-of-the-money short put option each month while simultaneously purchasing an out-of-the-money long put option below the short option position.