Global High Income Fund Inc. (GHI)
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3 CEFs for Emerging Market Debt Exposure [view article]
on june 16th: what happened to EDD Yikes!!!!!!!!!! Reply3 CEFs for Emerging Market Debt Exposure [view article]
Also, MS has a EDD favored client share class that doesn't pay the management fee. So I like what they are doing, but don't appreciate the price tag. Reply3 CEFs for Emerging Market Debt Exposure [view article]
I was in EDD and then recently out as the NAV/market price has closed. However, as of 4/30/08, etf connect reports management expenses at 2.21 and other expenses bringing your total expenses to 3.24. www.etfconnect.com/sel...Reply
Global High Income Fund Offers Up a Juicy 13.7% Yield [view article]
Using Morningstar the dividends show up being paid on a montly basis. Given the fact that the stock can be bought on ups and sold short on downs it seems there is good potential for income, although I haven't been able to backtest it because of the complexity of factoring in the dividends Reply3 CEFs for Emerging Market Debt Exposure [view article]
I think ESD is outperforming EDD, IMHO. ESD yields 9.2% with a regular monthly dividend and can be had for a 10% discount. Highly rated by Morningstar. Top holdings are Brazil notes, a good move considering the recent upgrading of that nation's debt. Chart of ESD shows OBV is rising; NAV is going up, I think there will pressure on price that will take it up from $18 to $20. Reply3 CEFs for Emerging Market Debt Exposure [view article]
Own AWF (i.e. broke Res. here per div. hike this week): I like to mix with R.T.'s like HGT for low-beta income. Also have the wife in TEGBX per higher-quality debt.PCY is a dog!
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Global High Income Fund Offers Up a Juicy 13.7% Yield [view article]
Marol,Yes, you're correct that the stock theoretically drops by the same amount of the dividend. You gain from the dividends because they're in your pocket and spendable, rather than the company or fund retaining the funds to increase inherent value. My understanding is that CEFs are required to pay out all of their income from dividends, though this may not entirely correct. Probably most holders of CEFs want the dividends to provide current income, and are willing to sacrifice this for longer term capital gains. Reply
3 CEFs for Emerging Market Debt Exposure [view article]
This is a good article. TEI and GHI are both great investments for income and both have highly-respected managers. As mentioned above, EDD is new, but it's good, too: it's yielding 11.12%. Another good one is Western Asset Emerging Mkt Floating Rate EFL. It's up an astronomical 36.86% YTD and is paying 7.03%. Unfortunately, it is now selling at a 21.07% premium. ReplyGlobal High Income Fund Offers Up a Juicy 13.7% Yield [view article]
Interesting and careful discussion and comments.Here's what I don't understand about dividends: Once they're paid out, it's normal for a stock/ETF/fund's value to immediately decrease by the same amount. So how do you gain from this??? Reply
Warming
Examiner
3 CEFs for Emerging Market Debt Exposure [view article]
I also own EDD, mainly because I would looking for income producing bonds that were NOT denominated in US Dollars. Many of the funds buy bonds denominated in dollars. Reply3 CEFs for Emerging Market Debt Exposure [view article]
These are no more risky than anything else that pays well. If you buy and hold for earnings, no trading, the trip is OK. But add some MLPs in the US and Canada oil for balance plus a few REITS. Nothing is perfect, but getting earnings today is worth the efforts required to sit still and watch the principal wax and wane. Good ideas for income. ReplyGlobal High Income Fund Offers Up a Juicy 13.7% Yield [view article]
Currently has a 5.6% premium to NAV .. no sale. ReplyGlobal High Income Fund Offers Up a Juicy 13.7% Yield [view article]
In the past, before we had ETFs such as HYG, I also used GHI. Again, Unless you are placing a couple hundred shares in your own account, BE CAREFUL using ANY CEFs. There is VERY little liquidity in these issues. Take a look at a chart of GHI for 2007 and especially the month of August. Trying to get out of this issue was basically impossible in size of any kind. Please do yourself and your clients a favor and look at HYG and other similar High Yield ETFs. CEFs should no longer be part of any advisor's strategy. Leave them to the pump and dump stockbrokers. Reply3 CEFs for Emerging Market Debt Exposure [view article]
In the past, before we had ETFs such as BWX and PCY, I also used TEI, and to a much lesser extent GHI. Unless you are placing a couple hundred shares in your own account, BE CAREFUL using ANY CEFs. There is VERY little liquidity in these issues. Take a look at a chart of TEI for July and August of 2007. Trying to get out of this issue was totally impossible at that time. And with TEI over $15, if the dollar begins to strengthen, good luck with your exit strategy. Please do yourself and your clients a favor and look at PCY and other similar ETFs. CEFs should no longer be part of any advisor's strategy. Leave them to the pump and dump stockbrokers. ReplyGlobal High Income Fund Offers Up a Juicy 13.7% Yield [view article]
ETFConnect.com shows GHI's latest monthly dividend at $0.1065 per share, for at yield of 8.4%, considerably below 13.7% indicated by the author. The same website also reveals that GHI has paid out year-end capital gains distributions only four times since their inception in 1993, so it's not something one should count on to increase the 'yield'. That being said, the average annual return since inception has been 13.7% (based on share price) and 12.8% (based on NAV)......not too shabby for a fixed-income fund. Reply