Miller/Howard:
4Q report is out:
mhinvest.com 
As usual, a nice, well-written report (imo).
Miller/Howard mentioned in Barron's today:
blogs.barrons.com
"Peter Amendolair is chief investment officer at Destra Capital Investments, where his job includes overseeing the Destra High Dividend Strategy Fund ( DHDAX), an open-end mutual fund sub-advised by Miller/Howard Investments, Inc...
Amendolair looks to high-grade preferred securities, which combine features of stocks and bonds and can offer either fixed- or floating-rate income. “I believe these should be core holdings as part of a fixed income holding,” he says, and Destra offers a separate open-end fund fund, the Destra Preferred and Income Securities Fund ( DPIAX), with that in mind."
So I looked at both funds, and I don't find them attractive for me now. They seem to have just started operations this year. They're puny ($6M in assets for DPIAX). They may be expensive (load fees) or not. (Some fees are waived apparently.) I don't see what annualized distributions might be.
I already hold shares elsewhere in several of the stocks DHDAX has: finance.yahoo.com I might consider the preferred (DPIAX) if I saw what the yield was and understood more easily what my cost (fund expenses) were. |
