General Info
About: It is a diversified management investment company that seeks a high current income with secondary objective of capital appreciation. It will normally invest at least 80% of its total assets in preferred securities and other income-producing securities so, that at least 50% of its total assets are invested in preferred securities. At least 80% of the preferred securities and debt securities are investment grade quality. Up to 20% may be invested in securities rated below investment grade, provided the issuer has investment grade senior debt outstanding. Normally it will invest 25% or more of its total assets in each of the utilities industry and the banking industry. Investment strategies such as hedging will be used in order to increase income. The Fund will issue Preferred Stock.
Tags: Asset Management Financial Services
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