The Sierra High Yield Corporate Bond Program (the “Program”) has two objectives, to provide total return and to limit exposure to downside risk.
The Program offers exposure to high yield corporate bonds. The Program will tactically allocate between high yield corporate bond funds and cash equivalents and/or short term bond funds.
The Program seeks to participate opportunistically in high yield corporate bond market uptrends. Cash equivalents and/or short-term bond funds are held in the absence of uptrends in high yield corporate bonds.
