ARDC News and Press, Ares Dynamic Credit Allocation Fund Inc. From 04/04/22

The expected risk premium for the Global Market Index ticked slightly higher in March to an annualized 5.8% pace, fractionally above last month’s estimate. Using short-term momentum and medium-term mean-reversion market factors (defined below) to adjust the forecast trims GMI&#...

We review CEF market valuation and performance through the fourth week of March and highlight recent market action. The CEF market had another down week, in aggregate, with equity-linked sectors outperforming on the back of a bounceback in stock prices. We discuss whether investor...

Lots of funds are cheap these days and paying high distribution yields, but Eagle Point Income represents a better bargain than many other funds because it is not as well understood. EIC is safer than many high yield bond funds because of the unique characteristics of CLO junior debt,...

We review CEF market valuation and performance through the third week of March and highlight recent market action. The CEF market was able to put up a rally this week, however, it remains down for the month. We don't expect the market to stage a full recovery. We discuss some of t...

Only funds with coverage >100% are considered for this quality closed-end fund report. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are KIO, ARDC and DSL. For further details see: The Quality Closed-End Fund Report, March 2022: Attractive Val...

We revisit the cross-credit fund ARDC - a consistent outperformer in the fixed-income CEF space. The fund continues to grow its income level and boasts distribution coverage well north of 100%. Its recent shift to a low-coupon preferred has made its leverage profile more resilient...

HIPS is an income fund invested in CEFs, MLPs, REITs, and BDCs. The high yield comes with a high expense ratio and share price decay. The current distribution per share doesn’t look sustainable in the long term. An alternative high-yield strategy taking into account tot...

We review CEF market valuation and performance through the first week of March and highlight recent market action. The CEF market was pretty flat this week as discount strength offset broadbased NAV weakness. Recently launched funds have continued to underperform their sectors - l...

The market rallied back from two and a half weeks of losses to finish the week in the green. The "sell the rumor, buy the news" adage comes to mind. It is unlikely we are out of the woods just yet - especially if the war escalates to include neighbors, or worse, NATO. I would be cauti...

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxY funds are ARDC, EHI and JRI. Buys affirmed on portfolio holdings, ARDC, JRI and HYB. For furth...