- The Vertical Capital Income Fund is a niche closed-end bond fund that invests nearly all of its assets in first-lien whole loans secured by residential real estate.
- The fund has a current managed distribution yield of 9.3% and currently trades at a 12% discount to its last reported net asset value.
- Activists targeted the fund in 2019 and attempted to force its liquidation. But the fund survived and has become more shareholder friendly by introducing the large managed distribution in 2020.
For further details see:
VCIF: This Mortgage-Backed Closed-End Bond Fund Offers An Attractive 9+% Distribution Yield