Kevin Loome notes that January has taken most investors by surprise with equity markets down and interest rates falling – and that this is important specifically for the high yield market as this is the part of the treasury curve where high yield securities price, making high yield appear relatively more attractive. While equities sold off, high yield has done pretty well. He comments that the recent equity selloff has not created contagion in the market. In summary, their positioning and expectations for returns in the high yield market have not changed.
The 30-day SEC yield for the High Yield Opportunities Fund as of 12/31/13 is as follows; Class A 5.15%, Class C 4.65% and Class I 5.66%.