The Invesco High Income 2023 Target Term Fund (IHIT), which we hold across a couple of our Income Portfolios, has just released its earnings.
These 3 things are important.
- The fund’s net investment income increased in annualized terms by nearly 7%
- The portfolio turnover rate was 0 – this is unusual but it means that the fund didn’t sell down any assets in the drawdown and also didn’t move up in quality which allowed it to maintain its earnings level
- Because the fund’s lower NAV, the fund’s NII as a percentage of net assets rose from 5.6% to 7.55% – a big move higher.
These are all very good news for the fund shareholders.
Thanks for reading.
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