- We refresh our look at IHIT - a mostly investment-grade CMBS CEF - based on the recently issued shareholder report.
- The fund has pleasantly surprised with relatively steady income by keeping its borrowings unchanged and partially taking advantage of lower short-term rates.
- Excluding swap cash flows, the fund was able to cover its distributions over the six-month period ending August.
- The fund's discount valuation and term structure provide an attractive combination of discount control and performance tailwind.
- We continue to maintain IHIT across two of our Income Portfolios.
For further details see:
IHIT: Some Good News From The Latest Report