Investment Objective -- Equity-Like Returns with Substantially Less Risk

Zazove’s Domestic (U.S.) and Global strategies seek to generate superior long-term returns for investors by constructing a portfolio of balanced convertibles with attractive asymmetrical risk/return characteristics.

Upside Capture Capture 60 – 75% of equity market advances
Downside Protection Participate in only 35-50% of equity market declines
Yield Advantage Carry higher current yields compared to equities
Diversification Broad issuer and industry diversification