GOF - GOF: Fixed-Income CEF 11.7% Yield Market-Beating Returns Uncertain Prospects
The Guggenheim Strategic Opportunities Fund (GOF) seems like a perfect fund for income investors and retirees. The fund invests in a wide array of fixed income securities from across the globe, offers investors an attractive 11.37% distribution yield and has achieved market-beating shareholder returns since inception, all while preserving shareholder capital and without engaging in destructive return-of-capital distributions. Outstanding results, but the future looks decisively less rosy. GOF's investment managers have turned bearish, and have refocused the fund's holdings towards lower-yielding securities. Since then, the fund has performed significantly worse, with worsening returns,