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The PGIM Global High Yield Fund offers a high current yield of 11.85%, higher than many other options in the market. The fund's performance has been disappointing, with shares down 29.42% since the start of last year. The fund's diverse portfolio includes below-investment-grade securities from around the world, providing potential for diversification and capital gains.
A total of nine funds launched during the week ending Sept. 1, thus a dip after the 17 ETF launches last week but not unusual in the leadup to a holiday weekend.
PGIM Global High Yield Fund, Inc. is a closed-end fund that aims to offer a high level of current income primarily by investing in below investment-grade fixed income. The fund's investment portfolio is diversified across different geographies and industries, with the United States accounting for the largest single country exposure. While the annualized results might appear modest, it's important to remember that bond investing can certainly see sizable declines.
GHY is a high yield bond fund with a global focus. The fund continues to remain at a deep and attractive discount.
Previously, GHY lacked distribution coverage, which hasn't changed; coverage has fallen a bit further. The fund has been deleveraging its portfolio, which could be seen as a positive if they can add more at the right time to catch a rebound.
GHY is a high yield fund with a tilt towards global positions. The fund's distribution coverage was a point of concern, and it only looks set to get worse.