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Thanks for the quick response jbking. Both links were helpful in a way but then now I more questions.

What is the premium discount stand for? It shows a NAV listing as lower than the market traded price. Given this does this imply that the fund may be over priced? Or this typical spread normal?

Given that you seem knowledgable about these type of funds or "junk bonds" as you called them, long term are they a good addition to balancing out a portfolio in your opinion?

I opened the pdf file and saw that the market returns were either good or bad, but what does this really mean? I mean even if the fund performed at only a few percentage points, doesn't the dividend offset the lower market increase? I am looking at this as strictly a dividend form of investing with little regard in the fluctuation of NAV or market share price.

When should I be worried about such a junk bond becoming worthless, or does this happen? The fund manager is listed as in service for this particular one from 1990. It seems to me that a ten year tenure would be benefical, then again what do I know (nothing at this point, but willing to learn).

Thanks again jbking

fool on,

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