Helios High Yield Fund (the Fund), formerly 40/86 Strategic Income Fund, is a non-diversified, closed-end management investment company. The Fund seeks a primary objective of high current income. The Fund will also seek capital growth to the extent it is consistent with its primary investment objective. The Fund will invest primarily in high-yield bonds, debentures, notes, corporate loans, convertible debentures and other debt instruments rated below-investment grade or determined by the Fund's investment manager to be of comparable quality. The Fund may invest up to 30% of its total assets in the securities, including high-yield obligations, of issuers domiciled outside of the United States. The Fund may also invest up to 10% of its total assets in securities that are the subject of bankruptcy proceedings or in default. The Fund's investment advisor is Brookfield Investment Management Inc.