New America High, Fund Inc. (NYSE:HYB)

CAPS Rating: 2 out of 5

Diversified, closed-end management investment company with a leveraged capital structure. The Fund's investment objective is to provide high current income, while seeking to preserve stockholders' capital.


Player Avatar tomtat1 (90.81) Submitted: 4/3/2008 1:16:54 PM : Outperform Start Price: $3.16 HYB Score: +51.21

HYB is a closed end High yield corp. bond fund trading at a 20% discount to NAV. It is run buy Mark Vaselkiv the manager of T.Rowe price high yield fund. Earnest Monrad the manager of Northeast Investors Trust since 1960 is a director. Both Northeast investors trust and T. Rowe price High yield are analists picks at morningstar for high yield bond funds. So I figure you are getting two of the best minds in the Junk Bond buisness for a 20% discount to eighter of there open end funds. If you are researching this one be aware that the dividend while good has been cut several times lately due to the increased borrowing costs the fund is experiencing due to the troubles in the credit market.

Featured Broker Partners