Fund Description
Overview
- Invests in about 550 common stocks, seeking to reduce exposure to individual stock risk
- Seeks a target holding of 60% of Fund assets in U.S. common stocks and 40% in international common stocks
- Sells call options on selected security indices to potentially enhance returns over a market cycle, in an amount equaling about 65% of the value of the Fund's common stock holdings
Investment Objective
This Closed-End Fund seeks a high level of income; capital appreciation is secondary.
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Management Team
Martin Jansen
Senior Portfolio Manager
Managed Fund since 2005
Vincent Costa, CFA
Portfolio Manager
Managed Fund since 2009
Paul Zemsky, CFA
Head of Derivative Strategies
Managed Fund since 2005
Bas Peeters, PhD
Head of Derivative Strategies
Managed Fund since 2005
Carl Ghielen
Senior Portfolio Manager
Managed Fund since 2005
Frank van Etten
Senior Investment Manager, Derivative Strategies
Managed Fund since 2005
Jody Hrazanek
Investment Manager, Derivative Strategies
Managed Fund since 2005
View Detailed Information
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| As of 09/30/2009 (Most Recent Quarter-End) |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(10/2005) |
| Net Asset Value |
+13.83 |
+2.62 |
-0.44 |
— |
— |
+3.25 |
| At Market |
+46.27 |
+41.85 |
+3.31 |
— |
— |
+4.81 |
View Detailed Performance
Total investment return at net asset value is not annualized for periods less than one year. Total investment return at market value measures the change in the market value of your investment assuming reinvestment of dividends and capital gain distributions, if any, in accordance with the provisions of the Fund’s dividend reinvestment plan. Total investment return at market value is not annualized for periods less than one year.
Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
It is important to note that the Fund has a limited operating history. Performance over a longer period of time may be more meaningful than short-term performance.
Closed-End Funds do not continuously offer shares for sale and are not required to buy shares back from investors upon request.
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Price volatility, liquidity, and other risks that accompany an investment in Domestic and Foreign Equities. Investing in stocks of Small- and Mid-Sized Companies may entail greater volatility and less liquidity than larger companies. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market investments may be especially volatile. Bond investments are subject to interest rate risk such that when interest rates rise, the prices of bonds, and thus the value of the Fund, can decline and the investor can lose principal value. This Fund has additional risks which you should consider, such as: Market Discount Risk, Investment and Market Risk, Issuer Risk, Equity Risk, Small-Cap and Mid-Cap Companies Risk, Index Call Option Risk, Option Related Risk, Foreign Investment and Emerging Markets Risk, Foreign (non-U.S.) Currency Risk, Derivatives Risk, Interest Rate Risk, Restricted and Illiquid Securities Risk, Distribution Risk, Tax Risk. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.