Fund-issued preferred
Issued by a registered fund, which must keep asset coverage of at least 200% on its preferred.
Definition
Preferred stock or notes issued by a closed-end fund registered under the Investment Company Act. The fund must keep asset coverage of at least 200% on its preferred and 300% on its notes, a legal cushion operating companies do not carry.
Definitions describe how YieldDesk reads the term. Nothing on this page is investment advice or a recommendation to buy, sell or hold.