Pacholder High Yield Fund:PHF

    Overview

    As of 8/19/2014. NAV as of 8/14/2014.

     Share
    Price
    NAVPremium/
    Discount
    Current$8.45$8.75-3.43%
    52 Wk Avg$8.35$8.71-4.10%
    52 Wk High$9.25$8.934.28%
    52 Wk Low$7.77$8.37-9.00%
    Regular Distribution TypeIncome Only
    Distribution Rate8.17%
    Distribution Amount$0.0575
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks capital appreciation through investment in US high yield fixed income securities

    Capital Structure

    As of 8/19/2014

    Total Net Assets:$155.719M
    Total Common Assets:$112.718M
    Common Shares Outstanding:12,995,297
    Leverage

    As of 12/31/2013

    Preferred Share Assets: $43.000M
    Type of Preferred: Taxable auction preferred share
    Total Debt (USD):
    Structural Leverage (USD): $43.000M
    Structural Leverage (%): 27.72%
    Effective Leverage (USD): $43.000M
    Effective Leverage (%): 27.72%
    Preferred Share Rates
    Date Symbol Series Rate Shares
    Annual Expense Ratios

    As of 12/31/2013

      Per Common Share
    Management Fees1.67%
    Other Expenses:0.54%
    Baseline Expense: 2.21%
    Interest Expense:0.00%
    Total: 2.21%

    Fund Management

    Fund Sponsor
    JP Morgan Investment Management Inc.

    Basics
    Category:Taxable Income-High Yield
    Ticker:PHF
    NAV Ticker:XPHFX
    Average Daily Volume (shares):40,000
    Average Daily Volume (USD):$0.336M
    Inception Date:11/17/1988
    Inception Share Price:$20.00
    Inception NAV: 
    Tender Offer:No
    Term:No
    Fiscal Year End:December 31
    Third Party Links & Reports

    Distributions

    As of 8/19/2014

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC
    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 12/31/2013
    $0.0548
    Annualized Distribution Rate on NAV:
    As of 8/19/2014
    7.89%
    Total Return on NAV (12 months):
    As of 8/19/2014
    11.65%
    Avg. UNII Per Share:
    As of 12/31/2013
    -$0.0148
    Total % Portfolio Effectively Leveraged:
    As of 8/19/2014
    27.72%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 8/19/2014

    PeriodAvg Discount
    6 Month-2.57%
    1 Year-4.10%
    3 Year4.62%
    5 Year2.23%
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 8/19/2014
    Category: High Yield Leveraged

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD12.74%6.13%6.67%5.92%
    2013-3.17%9.86%4.71%9.12%
    20128.97%20.58%10.07%21.43%
    201117.18%0.88%10.79%2.77%
    201028.03%23.96%20.83%21.26%
    2009126.84%111.38%96.64%72.27%
    2008-47.85%-48.18%-42.08%-43.32%
    2007-9.08%0.51%-22.69%-12.02%
    200626.86%22.23%17.61%13.57%
    2005-3.12%3.55%0.68%4.15%
    200417.05%23.21%13.38%15.53%
    200367.08%69.91%37.64%37.58%
    2002-20.25%-11.83%-5.77%-3.20%
    20014.68%-7.44%  
    20004.77%-14.55%  
    1999-19.58%0.81%  
    1998-0.33%-3.30%  
    199720.74%19.62%  
    199613.90%19.95%  
    199515.92%8.13%  
    1994-8.50%0.72%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 8/19/2014
    Category: High Yield Leveraged

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Maturity:
    As of 5/31/2014
    7.01 yrs
    Number of Holdings:
    As of 6/30/2014
    830
    Annual Portfolio Turnover:
    As of 12/31/2013
    46.00%
    Asset Allocation

    As of 12/31/2013 reported by Fund Sponsor

    Top Sectors

    As of 5/31/2014 reported by Fund Sponsor

    Sector%Portfolio
    Consumer Discretionary 18.20%
    Energy 12.90%
    Telcommunication Services12.40%
    Materials 11.30%
    Industrials 10.40%
    Top Holdings

    As of 6/30/2014 reported by Fund Sponsor

    HoldingValue% Portfolio
    JPMorgan Prime Money Market Inst 0.04 31 Dec 2049$1.67M1.06%
    Embarq 7.995% 8.00 01 Jun 2036$1.61M1.02%
    Unipac Ix Llc 13.00 15 May 2016$1.27M0.80%
    Ally Finl 8% 8.00 15 Mar 2020$1.18M0.74%
    Intl Lease Fin 8.25% 8.25 15 Dec 2020$1.10M0.69%
    Sprint Nextel 6% 6.00 15 Nov 2022$0.97M0.61%
    Goodyear Tire & Rubr 7% 7.00 15 May 2022$0.90M0.57%
    Cemex Espana S A Luxembourg 144A 9.875% 9.88 30 Apr 2019$0.86M0.54%
    Dish Dbs 6.75%$0.81M0.51%
    Clear Channel Ww Hldgs 7.625% 7.63 15 Mar 2020$0.79M0.50%
    Level 3 Comms 11.875% 11.88 01 Feb 2019$0.78M0.49%
    Credit Quality

    As of 5/31/2014 reported by Fund Sponsor

    Country Allocation

    As of 12/31/2013 reported by Fund Sponsor

    Country% Portfolio
    USA 100.00%

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