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Key Stats

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Expense Ratio Discount or Premium to NAV Total Assets Under Management 30-Day Average Daily Volume
2.86% 0.68% 238.20M 196417.2
Dividend Yield Turnover Ratio 1 Year Fund Level Flows Max Drawdown (All)
10.83% 63.00% -- Upgrade

Basic Info

Investment Strategy
The Funds primary investment objective is to seek a high level of current income with a secondary objective of capital appreciation.Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in any combination of the following credit obligations and related instruments: (i) Senior Loans (including those that, at the time of investment, are rated below investment grade by a nationally recognized statistical rating organization (a NRSRO) or are unrated but deemed by an Avenue Manager to be of comparable quality; these types of below investment grade instruments are commonly known as junk securities and are regarded as predominantly speculative with respect to the issuers capacity to pay interest and repay principal); (ii) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (including those that, at the time of investment, could be considered junk securities as described above); (iii) other debt obligations, including high-yield, high-risk obligations (i.e., instruments that are commonly known as junk securities as described above); (iv) structured products, including collateralized debt and loan obligations (collectively, structured products) that provide long or short exposure to other credit obligations; (v) swaps and other derivative instruments (including credit default, total return, index and interest rate swaps, options, forward contracts, futures contracts and options on futures contracts) that provide long or short exposure to other credit obligations; and (vi) short-term debt securities such as U.S. government securities, commercial paper and other money market instruments and cash equivalents (including shares of money market funds).
General
Security Type Closed-End Fund
Equity Style Small Cap/Value
Fixed Income Style --
Broad Asset Class Taxable Bond
Broad Category Fixed Income
Category Name High Yield Bond
Category Index ICE BofA US High Yield TR USD
Prospectus Objective Income
Fund Owner Firm Name Aberdeen Standard Investments Inc.
Prospectus Benchmark Index
No benchmark 100.0%
Broad Asset Class Benchmark Index
^BBUSATR 100.0%
Manager Tenure
Ben Pakenham 4.09 yrs
Steven Logan 4.09 yrs

Net Fund Flows Versus Category

1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
No Data Available
1 Month
% Rank: --
-- Category Low
-- Category High
1 Year
% Rank: --
-5.210B Category Low
4.529B Category High
3 Months
% Rank: --
-- Category Low
-- Category High
3 Years
% Rank: --
-- Category Low
-- Category High
6 Months
% Rank: --
-- Category Low
-- Category High
5 Years
% Rank: --
-- Category Low
-- Category High
YTD
% Rank: --
-- Category Low
-- Category High
10 Years
% Rank: --
-- Category Low
-- Category High
Date Unavailable

Performance Versus Category

 
20%
15%
10%
5%
0
View Category Returns. Upgrade now.
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (Price)
--
--
--
--
--
--
--
--
Total Return (NAV)
--
--
--
--
--
--
--
--
Category Rtn. (NAV)
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--
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--
--
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% Rank in Cat (NAV)
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As of January 19, 2022. Returns for periods of 1 year and above are annualized.

Annual Total Returns Versus Peers

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Name
2015
2016
2017
2018
2019
2020
2021
YTD
-16.52%
33.57%
15.62%
-17.64%
23.73%
7.33%
5.96%
1.28%
0.55%
2.65%
3.54%
0.01%
8.72%
7.51%
-1.54%
-2.18%
-5.59%
28.69%
9.70%
-2.51%
21.96%
2.24%
26.82%
-2.16%
-5.33%
20.76%
8.42%
-11.09%
24.69%
5.60%
9.64%
-0.33%
-2.24%
14.66%
4.36%
-3.54%
26.49%
6.47%
12.71%
-2.52%
-8.20%
29.71%
10.48%
-9.38%
21.50%
-4.55%
24.09%
-2.65%
As of January 19, 2022.

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (1-20-22) 10.83%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings Upgrade
Bond
Current Yield 7.70%
Yield to Maturity --
Effective Duration --
Average Coupon Upgrade
Average Credit Score Upgrade
Average Price Upgrade
As of November 30, 2021

Asset Allocation

As of November 30, 2021.
Type % Net % Long % Short
Cash 4.84% Upgrade Upgrade
Stock 0.17% Upgrade Upgrade
Bond 91.98% Upgrade Upgrade
Convertible 3.01% Upgrade Upgrade
Preferred 0.00% Upgrade Upgrade
Other 0.00% Upgrade Upgrade

Top 10 Holdings

Name % Weight Price % Change
EnQuest PLC 7%
3.09% -- --
Matalan Finance PLC 6.75%
2.89% -- --
Softbank Group Corp 6%
2.48% -- --
Galaxy Finco Ltd 9.25%
2.28% -- --
Summer (BC) Holdco A S.a r.l. 9.25%
2.04% -- --
Voyage Care BondCo PLC 10%
1.98% -- --
Staples, Inc. 10.75%
1.95% -- --
DDM Debt AB (publ) 9%
1.90% -- --
Qwest Capital Funding, Inc. 6.875%
1.87% -- --
LHMC Finco 2 S.a r.l. 7.25%
1.72% -- --

Basic Info

Investment Strategy
The Funds primary investment objective is to seek a high level of current income with a secondary objective of capital appreciation.Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in any combination of the following credit obligations and related instruments: (i) Senior Loans (including those that, at the time of investment, are rated below investment grade by a nationally recognized statistical rating organization (a NRSRO) or are unrated but deemed by an Avenue Manager to be of comparable quality; these types of below investment grade instruments are commonly known as junk securities and are regarded as predominantly speculative with respect to the issuers capacity to pay interest and repay principal); (ii) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (including those that, at the time of investment, could be considered junk securities as described above); (iii) other debt obligations, including high-yield, high-risk obligations (i.e., instruments that are commonly known as junk securities as described above); (iv) structured products, including collateralized debt and loan obligations (collectively, structured products) that provide long or short exposure to other credit obligations; (v) swaps and other derivative instruments (including credit default, total return, index and interest rate swaps, options, forward contracts, futures contracts and options on futures contracts) that provide long or short exposure to other credit obligations; and (vi) short-term debt securities such as U.S. government securities, commercial paper and other money market instruments and cash equivalents (including shares of money market funds).
General
Security Type Closed-End Fund
Equity Style Small Cap/Value
Fixed Income Style --
Broad Asset Class Taxable Bond
Broad Category Fixed Income
Category Name High Yield Bond
Category Index ICE BofA US High Yield TR USD
Prospectus Objective Income
Fund Owner Firm Name Aberdeen Standard Investments Inc.
Prospectus Benchmark Index
No benchmark 100.0%
Broad Asset Class Benchmark Index
^BBUSATR 100.0%
Manager Tenure
Ben Pakenham 4.09 yrs
Steven Logan 4.09 yrs

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (1-20-22) 10.83%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings Upgrade
Bond
Current Yield 7.70%
Yield to Maturity --
Effective Duration --
Average Coupon Upgrade
Average Credit Score Upgrade
Average Price Upgrade
As of November 30, 2021

Fund Details

Key Dates
Inception Date 1/27/2011
Last Annual Report Date 10/31/2021
Last Prospectus Date 12/31/2013
Attributes
Enhanced Index Fund No
Index Fund No
Inverse Fund No
Leveraged Fund Yes
Fund of Funds No
Currency Hedged Fund No
Synthetic Replication Fund No
Has Dividend Investment Plan Yes
Socially Responsible Fund No

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