The fund seeks a high level of total return by investing primarily in a diversified global portfolio of value equity securities.
The fund invests at least 80% in equity securities of which at least 40% will be of non-U.S. companies. The fund may also opportunistically write covered calls on up to 35% of the equity portfolio and may invest up to 10% in debt securities. The fund does not use leverage.
- Opportunity for a high level of total return to fuel attractive regular managed distributions.
- Value-oriented investment strategy from experienced Tradewinds portfolio team, that opportunistically seeks to identify undervalued securities across the globe.
- Global investing is a long-term strategic opportunity for US investors to achieve additional total return potential for their portfolios by expanding their ‘opportunity set’ and investing in higher performing markets.
|Closing Share Price (As of 10/17/2014)||$12.49
|Closing NAV per Share (As of 10/17/2014)||$14.12
|Premium / Discount**||-11.54%
|Current Distribution Rate (Market price)††||8.49%
|Distribution Amount (Quarterly)†† ||$0.2650
|Distribution Type ||Managed Distribution
As of 09/30/2014
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.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.The value of call options sold (written) by the Fund will fluctuate. The
Fund may not participate in any appreciation of its equity portfolio as fully as it would if
the Fund did not sell call options. In addition, the Fund will continue to bear the risk of
declines in the value of the equity portfolio.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.Fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value if market interest rates rise. 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.
Changes in exchange rates will affect the value of a Fund’s investments.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.
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)