The fund-of-funds employs a covered call strategy on a diversified portfolio of equity securities from developed markets outside North America. It primarily invests, directly or indirectly, in exchange-traded funds (ETFs) that provide diversified exposure to developed markets ex-North America stocks. To mitigate downside risks and generate premiums, the portfolio manager writes call options at its discretion on up to approximately 50% of the fund, but may be a greater or lesser percentage, from time to time. The fund will not hedge its exposure to foreign currencies back to the Canadian dollar, and may hold cash and cash equivalents or other money market instruments in order to meet its investment objectives.