Objective
The Fund’s investment objectives are to provide a high level of current income and to return Original NAV to Common Shareholders on or about the Termination Date.
Management team
as of
03/31/2024
03/31/2024
Average Annual Returns (%)
| Incept. Date |
Max Load (%) |
Since Incept. (%)* |
YTD (%) | 1Y (%) | 3Y (%) | 5Y (%) | 10Y (%) | |
|---|---|---|---|---|---|---|---|---|
* Returns are cumulative for funds with less than one year of performance.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Funds are subject to market risk, investment returns and principal value will fluctuate and fund shares, when redeemed, may be worth more or less than their original cost.
as of
03/31/2024
03/31/2024
Average Annual Returns (%)
| Incept. Date |
Max Load (%) |
Since Incept. (%)* |
YTD (%) | 1Y (%) | 3Y (%) | 5Y (%) | 10Y (%) | |
|---|---|---|---|---|---|---|---|---|
* Returns are cumulative for funds with less than one year of performance.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Funds are subject to market risk, investment returns and principal value will fluctuate and fund shares, when redeemed, may be worth more or less than their original cost.
Distributions
| Capital Gains | Reinvestment Price ($) |
|||
|---|---|---|---|---|
| Ex-Date | Income | Short Term | Long Term | |
as of 03/31/2024
Fund Characteristics
| 3-Year Alpha | -1.36% |
| 3-Year Beta | 0.58 |
| 3-Year R-Squared | 0.22 |
| 3-Year Sharpe Ratio | -0.60 |
| 3-Year Standard Deviation | 6.60 |
| Number of Securities | 34 |
| Total Assets | $69,809,867.00 |
Source: StyleADVISOR
Benchmark: Bloomberg US CMBS Investment Grade Total Return Index
Fund Documents
Risk & Other Considerations
Fund characteristics are subject to change daily. Provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned or securities in the sectors shown above.
This data is provided for informational purposes only and is not intended for trading or selling purposes. Closed end funds, unlike open end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed end funds are sold in the open market.
There is no assurance that a closed end fund will achieve its investment objective. Like any stock, a closed end fund's share price will fluctuate with market conditions and other factors. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. Accordingly, it is possible to lose money investing in the Trust.
As the Fund approaches its Termination Date, the Fund may earn interest income at a more modest rate. As a result, the Fund's distributions during the wind-up period of approximately three to six months preceding the Termination Date may consist, in whole or in part, of a return of capital.
CMBS differ from conventional debt securities because principal is paid back over the life of the security rather than at maturity. CMBS are subject to prepayment or call risk, which is the risk that a borrower’s payments may be received earlier than expected due to changes in prepayment rates on underlying loans. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool will adversely affect the value of CMBS and will result in losses to the Fund.
Junk bonds involve a greater risk of default or price changes due to changes in the issuer’s credit quality. The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.
Because the assets of the Fund will be liquidated in connection with its termination, the Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, or at a time when a particular security is in default or bankruptcy, or otherwise in severe distress, which may cause the Fund to lose money.
The Fund’s anticipated use of leverage creates special risks for Common Shareholders, including potential interest rate risks and the likelihood of greater volatility of NAV and market price of, and distributions on, the Common Shares.
Because the Fund is classified as ‘non-diversified’ under the 1940 Act, it can invest a greater portion of its assets in obligations of a single issuer than a ‘diversified’ fund. As a result, the Fund may be more susceptible than a diversified fund to any single corporate, economic, political, geographic or regulatory occurrence.
This data is provided for informational purposes only and is not intended for trading or selling purposes. Closed end funds, unlike open end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed end funds are sold in the open market.
There is no assurance that a closed end fund will achieve its investment objective. Like any stock, a closed end fund's share price will fluctuate with market conditions and other factors. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. Accordingly, it is possible to lose money investing in the Trust.
As the Fund approaches its Termination Date, the Fund may earn interest income at a more modest rate. As a result, the Fund's distributions during the wind-up period of approximately three to six months preceding the Termination Date may consist, in whole or in part, of a return of capital.
CMBS differ from conventional debt securities because principal is paid back over the life of the security rather than at maturity. CMBS are subject to prepayment or call risk, which is the risk that a borrower’s payments may be received earlier than expected due to changes in prepayment rates on underlying loans. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool will adversely affect the value of CMBS and will result in losses to the Fund.
Junk bonds involve a greater risk of default or price changes due to changes in the issuer’s credit quality. The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.
Because the assets of the Fund will be liquidated in connection with its termination, the Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, or at a time when a particular security is in default or bankruptcy, or otherwise in severe distress, which may cause the Fund to lose money.
The Fund’s anticipated use of leverage creates special risks for Common Shareholders, including potential interest rate risks and the likelihood of greater volatility of NAV and market price of, and distributions on, the Common Shares.
Because the Fund is classified as ‘non-diversified’ under the 1940 Act, it can invest a greater portion of its assets in obligations of a single issuer than a ‘diversified’ fund. As a result, the Fund may be more susceptible than a diversified fund to any single corporate, economic, political, geographic or regulatory occurrence.
United States
Canada (English)
United Kingdom
Isle of Man
Jersey
Guernsey
Australia
China
Hong Kong
Japan
Taiwan
Europe
Dubai