Horizons HYI’s investment objectives are to provide Unitholders with: (i) high total return income; and (ii) monthly distributions. Horizons HYI invests, directly or indirectly, primarily in high-yield debt securities of North American companies. Horizons HYI may also invest, directly or indirectly, in convertible debentures, preferred shares and mortgage back securities. Horizons HYI will, to the best of its ability, seek to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.