Portfolio Statistics

Assets

Total Fund AssetsAs of 09/30/2019 (updated monthly) $124.4 (M)
Net Assets - Advisor Class

Exposure

Gross Exposure As of 10/31/2019 (updated monthly), % of Total 90.51%
Net Exposure As of 10/31/2019 (updated monthly), % of Total 60.33%
Long Exposure As of 10/31/2019 (updated monthly), % of Total 75.42%
Short Exposure As of 10/31/2019 (updated monthly), % of Total -15.09%

FIXED INCOME

Average Duration As of 10/31/2019 (updated monthly) 2.67 Year(s)

Portfolio Details

Strategy Breakdown % of Invested Capital As of 10/31/2019

[category] Target Allocation
% of Invested Capital
Actual Allocation
% of Invested Capital
Structured Credit 20%-60% 41.59%
Credit Long Short 30%-70% 39.95%
Emerging Market Fixed Income 0%-30% 18.46%

Security Type Exposure% of Total As of 10/31/2019

Gross Exposure% of Total Net Exposure% of Total
Direct Securities 48.54% 33.70%
Index/Multi-Security Derivatives 30.38% 29.63%
Single Security Derivatives 11.59% -3.00%

Manager Allocation % of Invested Capital As of 10/31/2019

Allocation
Credit Long Short 39.95%
Apollo Credit Management, LLC 24.08%
Chatham Asset Management, LLC 15.87%
Emerging Market Fixed Income 18.46%
Emso Asset Management Limited 18.46%
Structured Credit 41.60%
Ellington Global Asset Management, LLC 21.54%
Medalist Partners, L.P. 20.06%