Relative Value Partners founder Maury Fertig names two floating-rate bond funds which should be able to adjust as rates rise…
Read article on Seeking Alpha
Investors hungry for income have driven up to lofty levels the premiums on dozens of closed-end funds, exposing investors to steep, sudden losses and prompting one prominent manager to warn investors away from his own funds…
For the first nine months of 2016, the Durable Income Strategy performed well. Durable Income
generated a 16.64% net return vs the Barclays High Yield Index Benchmark return of 15.11%…
Read more about Durable Income Strategy Investor Letter – October 2016
For all the ongoing market concerns, the 3rd quarter ended with higher asset values. At the
start of the year, we felt strongly that the economy was not going to slide into a recession and the FOMC
would not raise rates four times…
Read more about Patience Rewarded – Investor Newsletter – 2016 Q3
As investors, we are always searching for a stable and attractive yield without taking excessive risk. Currently, we seek opportunities that can provide an attractive return even as the Fed may raise short-term rates by a modest 25 basis points this December…
Read more about Wells Fargo’s Troubles Create Buying Opportunity
Closed-end funds (CEFs) sometimes get lost in the never ending expanse of investment options. That certainly seems to be the case in recent months, as yield-starved investors continue to gobble up risky debt with coupons at all-time lows while ignoring safer plays in the fixed income CEF market…
Read more about Why Are Yield-Starved Investors Ignoring Closed-End Funds?
Activists get involved with closed-end funds when they are trading at a big discount to the value of their underlying securities. These moves can sometimes be good news for individual investors—but not always….
For the first half of 2016, the Durable Income Strategy performed well in a volatile market environment. Durable Income generated a 9.48% net return vs the Barclays High Yield Index Benchmark return of 9.06%. Since inception (June 1, 2014)…
Read more about Durable Income Strategy Investor Letter – July 2016
Listening to this song on July 4th, we were feeling particularly patriotic. Living in the USA has numerous benefits: freedom being the most obvious and, arguably, the most treasured. A less celebrated benefit is the US economy which continues to chug along with much less volatility than China, Japan or Europe…
Read more about “Living in the USA” – Investor Newsletter – 2016 Q2
As professional investors who spend a lot of time analyzing the closed-end fund (CEF) market, we often question actions (or inaction) taken by fund companies. Advancements in proxy access and fiduciary standards are designed to ensure management makes decisions that are in the best interest of shareholders…