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The fixed income world is beginning to undergo a multiyear transition as aggressive monetary accommodation and government spending across key economies drive higher near-term economic growth rates. The result could be a shift to higher real rates as output gaps narrow, as well as mode...
Senior loan funds are showing some opportunities at some deep discounts. These funds should benefit from increasing interest rates, but that could be years before playing out. Be aware of certain other risks in these investments, as well as the other benefits they can provide. ...
The loan space continues to see inflows which should be supportive of NAVs. As NAVs increase, they can increase leverage supporting distributions. Loan funds remain one of the cheapest asset classes in the CEF spectrum with five-year z-scores that are barely positive. We like KIO ...
December was another good month for CEFs with some discount tightening and NAV growth. The Core Portfolio was up over 1% with the NAV up 1.8%. The January Effect could bring discounts to an expensive level if the recent trends continue. At that point we would want to start reducing CE...
BOSTON, Jan. 11, 2021 (GLOBE NEWSWIRE) -- First Eagle Senior Loan Fund (the “Fund”) ( NYSE : FSLF) today announced the declaration of its monthly distribution of $0.07 per common share, payable on January 29, 2021. Based on the Fund’s share price of $14.00 as of its...
Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top ranked funds are DSL, PGZ and KIO. For further details see: The Chemist's Quality Closed-End Fund Report: December 2020
23 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. Rally continues for the fifth week; MLPs lead again. DSL cuts distribution. For further details see: Weekly Closed-End Fund Roundup: December 6, 2020
22 out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. Rally continues for the fourth week as MLPs lead the way. DSL announces distribution cut, discussed in a separate report for members. For further details see: Weekly Closed-End...
As the year is starting to wind down, I wanted to take an updated look at what distribution changes happened throughout the year. We had previously done this for a more specific time frame; the time frame of the pandemic to shortly after in June. Again, I'm surprised at how resili...
Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxYxZ ranked funds are NHF, PGZ and DCF. For further details see: The Chemist's Quality Closed-End Fund Report: November 2020
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BOSTON, July 12, 2021 (GLOBE NEWSWIRE) -- First Eagle Senior Loan Fund (the "Fund") (formerly NYSE: FSLF) today announced its initial liquidating distribution to its shareholders. On or about July 16, 2021, the Fund will distribute $83,315,253, or $11.23 per share, in a cash liquidati...
BOSTON, June 14, 2021 (GLOBE NEWSWIRE) -- First Eagle Senior Loan Fund (the "Fund") (NYSE: FSLF), a registered closed-end investment company, today announced that it intends to liquidate and distribute its net assets to shareholders. The Fund's investment adviser, First Eagle Al...
NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) -- Xcel Brands , Inc. (NASDAQ: XELB) today announced it has entered into a refinancing of its existing credit facility. The refinancing provides an initial $25 million term loan under a facility jointly provided by BHI and First Eagle ...