Pacholder High Yield Fund:PHF

    Overview

    As of 5/25/2017. NAV as of 5/18/2017.

     Share
    Price
    NAVPremium/
    Discount
    Current$7.95$8.04-1.12%
    52 Wk Avg$7.34$7.84-6.32%
    52 Wk High$7.98$8.09-0.75%
    52 Wk Low$6.70$7.39-12.87%
    Regular Distribution TypeIncome Only
    Distribution Rate3.77%
    Distribution Amount$0.0250
    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 5/25/2017

    Total Net Assets:$145.015M
    Total Common Assets:$103.924M
    Common Shares Outstanding:12,996,610
    Leverage

    As of 12/30/2016

    Preferred Share Assets:
    Type of Preferred:
    Total Debt (USD): $41.000M
    Structural Leverage (USD): $41.000M
    Structural Leverage (%): 28.69%
    Effective Leverage (USD): $41.000M
    Effective Leverage (%): 28.69%
    Annual Expense Ratios

    As of 12/31/2016

      Per Common Share
    Management Fees1.41%
    Other Expenses:0.90%
    Baseline Expense: 2.31%
    Interest Expense:0.38%
    Total: 2.69%

    Fund Management

    Fund Sponsor
    JP Morgan Investment Management Inc.

    Portfolio Managers
    James P Shanahan Jr (31 Dec 2007)

    Basics
    Category: Taxable Income-High Yield
    Ticker: PHF
    NAV Ticker: XPHFX
    Average Daily Volume (shares):
    Average Daily Volume (USD): M
    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 5/25/2017

    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

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 12/31/2016
    $0.0431
    Annualized Distribution Rate on NAV:
    As of 5/25/2017
    3.73%
    Total Return on NAV (12 months):
    As of 5/25/2017
    16.47%
    Avg. UNII Per Share:
    As of 12/31/2016
    -$0.0151
    Total % Portfolio Effectively Leveraged:
    As of 5/25/2017
    28.69%

    Pricing Information

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

    As of 5/25/2017

    PeriodAvg Discount
    6 Month-3.87%
    1 Year-6.32%
    3 Year-8.74%
    5 Year-4.25%
    Z-Score

    As of 5/25/2017

    PeriodZStat
    3 Month1.00
    6 Month0.90
    1 Year1.50
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 5/25/2017
    Category: High Yield Leveraged

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD13.35%4.96%  
    201629.28%21.76%20.26%16.61%
    2015-9.82%-7.86%-7.25%-5.30%
    20141.46%2.41%1.80%1.70%
    2013-3.11%9.88%4.71%9.12%
    20129.56%20.59%10.07%21.43%
    201117.87%0.89%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%
    200626.92%22.23%17.61%13.57%
    2005-3.10%3.55%0.68%4.15%
    200417.32%23.21%  
    200368.91%69.91%  
    2002-18.62%-11.83%  
    20016.84%-7.44%  
    20004.79%-14.55%  
    1999-19.58%0.81%  
    1998-0.27%-3.30%  
    199720.74%19.62%  
    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 5/25/2017
    Category: High Yield Leveraged

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Maturity:
    As of 2/28/2017
    6.94 yrs
    Number of Holdings:
    As of 3/31/2017
    831
    Annual Portfolio Turnover:
    As of 12/31/2016
    45.00%
    Asset Allocation

    As of 12/30/2016 reported by Fund Sponsor

    Top Sectors

    As of 2/28/2017 reported by Fund Sponsor

    Sector%Portfolio
    Consumer Discretionary 17.10%
    Energy 14.70%
    Telcommunication Services12.10%
    Industrials 11.30%
    Materials 10.40%
    Top Holdings

    As of 3/31/2017 reported by Fund Sponsor

    HoldingValue% Portfolio
    Embarq 7.995% 8.00 01 Jun 2036$1.74M1.21%
    JPMorgan US Government MMkt Instl 0.35 31 Dec 2049$1.65M1.14%
    Everest Acq Llc/Finance 144A 8% 8.00 15 Feb 2025$1.15M0.79%
    Dish Dbs 6.75% 6.75 01 Jun 2021$1.02M0.70%
    Sprint 7.125% 7.13 15 Jun 2024$1.00M0.69%
    Prime Sec Svcs Borrower Llc / 144A 9.25% 9.25 15 May 2023$0.86M0.60%
    Hexion U S Fin 6.625% 6.63 15 Apr 2020$0.76M0.53%
    Everest Acq Llc/Finance 9.375% 9.38 01 May 2020$0.73M0.51%
    Cortes Np Acquisition 144A 9.25% 9.25 15 Oct 2024$0.72M0.50%
    Supervalu 7.75% 7.75 15 Nov 2022$0.71M0.49%
    Frontier Comms 8.5% 8.50 15 Apr 2020$0.69M0.48%
    Credit Quality

    As of 2/28/2017 reported by Fund Sponsor

    Maturity Breakdown

    As of 2/28/2017 reported by Fund Sponsor

    Country Allocation

    As of 12/30/2016 reported by Fund Sponsor

    Country% Portfolio
    USA 100.00%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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