The investment seeks to provide attractive risk-adjusted returns with low relative volatility in virtually all market environments.
The fund primarily employs investment strategies designed to capture price movements generated by specific events, including, but not limited to, securities of companies involved in mergers, acquisitions, asset sales or other divestitures, restructurings, refinancing, recapitalizations, reorganizations or other special situations (referred to as "event-driven opportunities"). It is non-diversified.
The investment seeks positive absolute returns.
In pursuing positive absolute returns, the fund's subadviser seeks to minimize losses when it believes market risk is high and maximize growth when it believes market risk is low. The fund will invest the majority of its assets in ETFs that invest in U.S., international, and emerging market equity securities of any market capitalization (growth or value stocks or both) and fixed income securities of any maturity (including high yield securities, which are often referred to as "junk bonds"); real estate interests; commodities; and inflation-protected securities.