FUSI seeks to provide income with capital appreciation via a sector rotation strategy on the floating rate segment of the global fixed-income space. The fund primarily holds securitized debt including CLOs, credit risk transfer securities, floating rate commercial mortgage securities, and mortgage- or asset-backed securities. Although the fund principally invests in investment grade debt, it may allocate up to 35% of the portfolio in below investment grade securities. The selection process uses a sector rotation approach based on a model that includes a macroeconomic framework, technical analysis, and fundamental research. The model seeks to identify sectors that offer better relative yield and capital appreciation potential. Buy and sell decisions consider sector allocation and credit quality standards. The fund may also use derivatives to generate income or hedge exposure.