The fund's investment objectives are high current income and total return.
The fund invests approximately equal proportions in 1) U.S. and foreign dividend-paying common stocks, 2) dividend-paying common Real Estate Investment Trusts (REITs) issued by real estate companies, 3) emerging markets sovereign debt, and 4) adjustable rate senior loans. The fund expects to invest between 40% and 70% of its managed assets in equity security holdings and between 30% and 60% of its managed assets in debt security holdings. Under normal circumstances, the fund's target weighting is approximately 50% equity and 50% debt. The fund uses leverage.
- Balanced equity & debt strategy focused on providing current income & total return potential while reducing US interest rates sensitivity
- Diversification potential – lower historical correlations among asset classes provides opportunity for more consistent returns
- Managed by specialists in several non-traditional asset classes, providing retail income-oriented investors access to institutional strategies where active professional management can potentially add value to the fund’s total return
|Closing Share Price (As of 9/19/2014)||$11.93
|Closing NAV per Share (As of 9/19/2014)||$13.32
|Premium / Discount**||-10.44%
|Current Distribution Rate (Market price)††||8.72%
|Distribution Amount (Quarterly)†† ||$0.2600
|Distribution Type ||Managed Distribution
As of 08/29/2014
The Fund is designed as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program. Investors should carefully review and consider the risks listed below before investing.
The possible loss of the entire principal amount that you invest.Shares of closed-end investment companies like the Fund frequently trade at a discount to their NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Each Fund’s use of leverage creates the possibility of higher volatility for the Fund’s per share NAV, market price, distributions and returns. There is no assurance that a Fund’s leveraging strategy will be successful.The Fund’s investment program and the tax treatment of Fund distributions may be affected by IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations, including changes resulting from the “sunset” provisions that may apply to the favorable tax treatment of tax-advantaged dividends. There can be no assurance as to the percentage of a Fund’s distributions that will qualify as tax-advantaged dividends.Common stock returns often have experienced significant
volatility. This is the risk that a security in a Fund's portfolio will fail to make dividend or interest payments when due.This is the risk that the Fund may not be able to sell securities in
its portfolio at the time or price desired by the Fund.Investments in securities below investment grade quality
are predominantly speculative and subject to greater volatility and risk of default.In determining whether an unrated security is an appropriate
investment for the Fund, the manager will consider information from industry sources, as
well as its own quantitative and qualitative analysis, in making such a determination.
However, such a determination by the manager is not the equivalent of a rating by a
rating agency. There is no guarantee that the issuers of common stocks in which
the Fund invests will declare dividends in the future or that, if declared, they will remain
at current levels or increase over time.Derivative securities, such as calls, puts, warrants, swaps and
forwards, carry risks different from, and possibly greater than, the risks associated with
the underlying investments.Some of the adjustable rate loans in which the Fund may invest
will be unsecured or insufficiently collateralized, thereby increasing the risk of loss to the
Fund in the event of issuer default. Value stocks are securities that the portfolio manager believes to be
undervalued, or mispriced. If the manager’s assessment of a company’s prospects is
wrong, the price of the company’s common stock or other equity securities may fall, or
may not approach the value that the manager has placed on them.
Investments in non-U.S securities involve special risks not typically associated with domestic investments including currency risk and adverse political,
social and economic development. These risks often are magnified in emerging markets.
Your investment in the Fund is linked to the performance of the
commercial real estate markets, which may fall due to increasing vacancies, declining
rents or the failure of borrowers to pay their loans.
Potential distribution sources include net investment income, realized gains and/or return of capital. This Fund has adopted a Managed Distribution Policy, which is designed to provide attractive, regular distributions throughout the course of the year. Under this policy, the Fund seeks to maintain a stable regular distribution amount that, over the long term, matches the Fund’s total distributions paid to its total return. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate. Each regular distribution will be composed of Fund earnings (net investment income) and profits (realized gains, if any), and may also include a non-taxable distribution of a portion of the Fund’s capital, which in turn consists of shareholders’ original investments plus any unrealized gains, life-to-date.
If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
for the update schedule.
|Daily all funds:
||Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
|Monthly all funds:
||Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
|Monthly certain funds:
Municipal bond fund holdings and portfolio information
|Monthly certain funds, with 1-month lag:
Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
|Quarterly certain funds:
JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
|Quarterly all funds:
SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)