| The Yield Hunter Let's make some money and sleep well at night |
| High Income Floating Rate Closed End Funds |
| Closed End Funds A fund with a fixed number of shares outstanding, and one which does not redeem shares the way a typical mutual fund does. Closed-end funds behave more like stock than open-end funds: closed-end funds issue a fixed number of shares to the public in an initial public offering, after which time shares in the fund are bought and sold on a stock exchange, and they are not obligated to issue new shares or redeem outstanding shares as open-end funds are. The price of a share in a closed-end fund is determined entirely by market demand, so shares can either trade below their net asset value ("at a discount") or above it ("at a premium"). also called closed-end investment company or publicly-traded fund. Listed below are Closed End Funds that invest PRIMARILY in Senior Secured Floating Rate HIGH YIELD CORPORATE DEBT Note that the funds listed invest in the bonds of company that generally are less than investment grade. Also note that these trade based on 'supply and demand' versus net asset value---thus they trade at a discount or premium to the underlying bond portfolio value. You should note that there is some level of volatility in the prices of these securities and that price range will generally be narrowest when interest rates in general are relatively stable. As with any bond the net asset value of these funds will go up if interest rates in gereral are falling and the net asset value will go down if interest rates in general are rising. You will note that generally these closed end funds are 'sponsored' by an investment management firm (such as Blackrock) and that these firms get a 'managment fee' for their services of managing the portfolio. Generally this is a modest amount (if it is too high--ie. 2-3% the dividend will be hurt) of less than 1% of assets. These funds are a good way to get a very good yield while getting the diversification needed in a high income portfolio. While having an opportunity for capital gains (or losses) as well, These trade just like stocks and may be bought and sold in the same manner and for the same commission. The Funds Listed Below are all Taxable Funds (No Tax Exempt Securities) |
| Listed below are Closed End Fund Issues These are NOT recommended purchases, but are just informational. You must do additional due diligence to find investments suitable to your needs and style. Information Current as of 2/3/2008 |
| Updated 2/3/2008 |
| These securities pay monthly income Funds with an (L) after the name use Leverage to enhance returns |
| Blackrock Floating Rate Income Strategies (L) FRA 15.90 9.5% -9.15% |
| Blackrock Diversified Income Strategies Fund (L) DVF 14.87 12.1% -4.8% |
| Blackrock Floating Rate Income Strategies II (L) FRB 15.40 9.6% -9.3% |
| Eaton Vance Senior Floating Rate (L) EFR 14.95 9.3% xxx |
| Eaton Vance Floating Rate Income (L) EFT 15.15 9.4% xxx |
| Eaton Vance Credit Opportunity Fund (L) EOE 17.45 11.8% xxx |
| First Trust Floating Rate Income (L) FCM 14.77 8.2% xxx |
| First Trust Senior Floating Rate Inc II (L) FCT 14.97 8.7% xxx |
| Nuveen Floating Rate Inc Opp Fund (L) JRO 11.32 10.6% -4.8% |
| Nuveen Floating Rate Income Fund (L) JFR 11.22 10.1% -6.0% |
| Nuveen Senior Income Fund (L) NSL 7.27 9.6% 0% |
| Pimco Floating Rate Income Fund (L) PFL 16.54 10.5% 6.3% |
| Pimco Floating Rate Strategy (L) PFN 15.07 11.1% .6% |
| Pioneer Floating Rate (L) PHD 15.80 N/A xxx |
| ING Prime Rate Trust (L) PPR 5.85 9.4% -7.14% |
| LMP Corp Loan Fund (L) TLI 11.33 9.2% xxx |
| Van Kampen Senior Income Fund (L) VVR 6.54 10.6% xxx |
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