PCF News and Press, High Income Securities Fund From 07/06/22

The revised long-term outlook projects an annualized return of 4.9%. The current risk premium forecast for GMI suggests that multi-asset-class strategies overall will generate lower returns relative to results posted in recent years. Combining forecasts via several models may prov...

Last time we touched on PCF, the fund had been trading at a premium. That premium quickly ended with a dilutive rights offering, and 2022 hasn't helped that. The fund holds a meaningful amount of other CEFs, presenting a discount on discounts. For further details see: PC...

Discounts have been widening in the CEF space as volatility has been kicking up. The widening discounts have been creating more opportunities, but headwinds exist. We screen for several different metrics that bring up funds worth exploring further. For further details see: ...

The expected risk premium continued sliding in April for the Global Markets Index (GMI). Tuesday’s revision reflects a drop to a 5.4% annualized increase for the long term – a relatively large cut of 40 basis points from last month’s estimate. The forecast ref...

High Income Securities Fund (NYSE:PCF) declares $0.073/share monthly dividend, in line with previous. Forward yield 11.02% Payable April 29; for shareholders of record April 20; ex-div April 19. Payable May 31; for shareholders of record May 19; ex-div May 18. Payable June 30; for shareholder...

High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) today announced that the Fund’s Board of Trustees (the “Board”) has declared the next three-monthly distributions under the Fund’s managed distribution plan. Under the Fund’s ...

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&#...

Return of capital is often misunderstood as always being a bad thing when showing up in the tax character of distribution. However, there is a significant benefit to return of capital for those held in a taxable account as a way to defer tax obligations. These can be deferred pote...

As the world reels from the crisis, the blowback is rippling across the world economy and markets. The current risk premia analysis implicitly recommends managing expectations down for GMI and other global multi-asset-class portfolios. The mean reversion factor is estimated as the...

The expected risk premium for the Global Market Index edged down in January from the previous month’s estimate. Using short-term momentum and medium-term mean-reversion market factors to adjust the forecast reduces GMI’s ex-ante risk premium to an annualized 5.4%. Th...