Cheyne believes that investment grade and crossover credit risk premium is dislocated on a fundamental and historic basis. The Cheyne Total Return Credit Fund is an established way to capture this in a leveraged format. The Fund targets attractive risk return opportunities currently presented by the equity tranches of corporate credit portfolios. The Fund's return is generated by being paid a premium to take credit default risk to a diverse portfolio of industrial companies on a term-levered basis. Cheyne's active management of the underlying portfolios seeks to protect the cash flow profiles of the fund and generate additional trading gains. Investors pay a net trading cost adjustment on subscriptions and redemptions. AUM reflects the aggregate of the various share classes and is denominated in USD