Fund Description: Flaherty & Crumrine Preferred Securities Income Fund, formerly Flaherty & Crumrine/Claymore Preferred Securities Income Fund, Inc., is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: Flaherty & Crumrine Preferred Securities Income Fund seeks high current income for holders of its Common Stock consistent with preservation of capital. FUND STRATEGY: At least 80% of the Fund's total assets will be invested in a diversified portfolio of preferred securities. The Fund expects that its portfolio of preferred securities will consist principally of hybrid or taxable preferreds. Hybrids allow issuers to get a deduction for the dividend payments on preferreds. At least 80% of the Fund's preferred securities will be investment-grade quality at the time of purchase. Up to 20% of the Fund's total assets may be invested in securities rated below-investment grade (but not below Ba3 or BB-), provided the issuer has investment-grade senior debt outstanding. The Fund’s investment adviser intends to pursue strategies that it expects generally to result in the Fund’s income increasing in response to significant increases in long-term interest rates while being relatively resistant to the impact of declines in long-term interest rates. The response of the Fund’s income to changes in long-term interest rates will be impacted by the effectiveness and use of its hedging strategies. The hedging positions, if any, that the Fund would hold are normally anticipated to appreciate in value when long-term interest rates rise significantly, reflecting either the rise in yields of Treasury securities or interest-rate swap yields, as applicable, and the associated decline in the prices of underlying Treasury securities or decreased net market value of an obligation to pay a fixed-income stream in a higher interest rate environment. FUND MANAGEMENT: Flaherty & Crumrine Incorporated (F&C) is the Fund's investment advisor.