Friday Fixed Income

Three fixed income selections.

music selection:  “You Make My Dreams Come True” — Hall & Oates

Each Friday, I provide three closed end funds invested in fixed income that I would consider putting money into today.  I allocate 40% of my main taxable portfolio to these and similar high yield instruments.  This covers my basic income needs for the year.  Importantly, I am free to trade with the remainder or NOT trade if nothing attractive is on offer.  Don’t pick up nickels in front of a steamroller!

Advent Convertible Securities & Income (AGC) is a closed end fund that seeks total return through investments in global convertible and non convertible securities and utilizing and option writing strategy.  It pays an income only distribution on a monthly basis.

• Discount to NAV – 11.52%
• Yield – 9.79%
• Effective leverage – 40.91%
• Expense ratio – 3.49%
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Aberdeen Income Credit Strategies (ACP) is a closed end fund that seeks a high level of current income with capital appreciation through investing in a portfolio of senior loans.  It pays an income only distribution on a monthly basis.

• Discount to NAV – 6.75%
• Yield – 10.21%
• Effective leverage – 30.07%
• Expense ratio – 3.11%
• Learn more

Eaton Vance Tax Advantaged Bond and Income (EXD) is a closed end fund that seeks to provide tax-advantaged current income and gains through the use of a tax-advantaged short-term, high quality bond strategy and a rules-based option overlay strategy..  It pays a managed distribution on a quarterly basis.

• Discount to NAV – 8.63%
• Yield – 11.91%
• Effective leverage – none
• Expense ratio – 1.45%
• Learn more

Devour your prey raptors!