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JGH: Great Fund, But Time To Ring The Register?

Maks F. S. profile picture
Maks F. S.


  • A general update of JGH since our initial article.
  • Discussion of economic and market catalysts responsible for the fund's performance.
  • Detailed discussion of portfolio changes over the last 12 months.
  • Review of various performance metrics over the same time frames.

Just about a year ago I wrote in great detail about one of my favorite closed end funds, one which I have owned for a number of years. That fund is the Nuveen Global High Yield Fund (NYSE:JGH). You can read that article here, JGH: Global High Yield Diversification In A Box. In this article, I wanted to do a complete update and see if JGH still belongs in your portfolio.

What's New?

Over the last year a number of catalysts sparked the underlying performance of both the shareprice and the underlying NAV.

For one, the global economy has managed to eek out yet another year of gains and the Fed's rate hikes have convinced investors that everything is still okay in the high yield world.

Relating to closed end funds in particular, as the economy has managed to stay afloat over the last year, investors continued to search for higher yields. CEFs, and those funds that were trading at above average discounts benefited greatly. JGH was one of those funds.

Fund Updates

At the time of our initial article back on September 19th, 2016, the fund yielded a 9.54% distribution and traded at an 11.96% discount to NAV, net asset value. Today the fund is yielding 8.41% and trading at a much smaller 6.59% discount to NAV.

The chart below shows both the share price and NAV and their relationship. As we can clearly see, over the last 12 months both the share price and NAV went up and the discount to NAV has closed.

Source: CEF Connect

Looking deeper into the portfolio, we can see that since our last article, the corporate bond allocation has dropped by about 2% and shifted into preferred securities.

Source: Nuveen JGH Website

The portfolio is still very well diversified and the top

This article was written by

Maks F. S. profile picture
Intrepid Leader at an RIA.  My firm and I simplify the lives of busy clients by providing ongoing financial planning and asset management. this is done by providing our clients customized, ongoing comprehensive financial planning, and customized investment advisory services tailored to the clients' needs. As a fiduciary, we have a legal obligation to put the needs and interests of our clients above our own. Specialties: fee based comprehensive financial planning, retirement planning, life insurance and protection planning.

Analyst’s Disclosure: I am/we are long JGH. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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