Investment Objective
The Portfolio seeks above market yields while maintaining the potential for capital appreciation. It is often used as an enhancement to traditional fixed income portfolios.

Portfolio Universe
The strategy is implemented primarily through the shares of closed-end funds. Funds are typically purchased at a discount to net asset value on an absolute basis and relative to their own history. ETFs may be purchased to access certain segments of the income markets. The Portfolio usually holds 15-20 funds.

Investment Approach
Newgate employs an asset allocation approach across distinct income focused investment strategies, including global government and corporate bonds, floating rate debt and hybrid securities. Decisions are based on an analysis of global economic trends, interest rate policies, currency movements, changes in GDP, inflation and other indicators.

Inception
1988

Quarterly updates
Factsheet data:Portfolio Allocation, Performance, Equity Holdings
Market Review: Portfolio Commentary
Performance Data: Quarterly performance since inception