SA News • Fri, Dec. 19
Kayne Anderson: High-Quality Closed End Fund Trading At Double The Historical Discount
- High-quality portfolio of MLPs and other midstream companies.
- Good current income and growing distributions.
- Catalyst to shrink current discount to NAV.
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Fri, Dec. 19, 4:36 PM| Comment!
Wed, Oct. 1, 6:20 AM| 1 Comment
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Fri, Mar. 28, 7:42 AM| Comment!
Dec. 5, 2012, 2:29 PMKayne Anderson Midstream (KMF) gained 32% in the last 12 months, the best return of 259 energy MLPs with $100M-plus, and fund manager Kevin McCarthy thinks it's only the beginning. But KMF is more volatile than most MLPs; ~30% of its portfolio is paid for with borrowed money, meaning the leverage boosts returns when the portfolio does well and worsens the pain when it falls. | Comment!
KMF vs. ETF Alternatives
The Fund seeks to provide a high level of total return with emphasis on making quarterly cash distributions. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of companies in the Midstream/Energy
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