Marina Bay Sands Hotel, Singapore. Quite a Hotel with a Pool up there on the Top!
The Hawking Portfolio is an “Income” portfolio built from Closed-End-Funds (CEFs). As such, it requires very little management, other than to re-invest any dividends paid, except for occasional reviews to check on current yields (min 8% target) and discount/premium to Net Asset Value (NAV).
The Portfolio is currently holding 25 CEFs with an estimated annual yield of ~11%:
The portfolio has performed very well over the past 2 years and is clearly outpacing the benchmark AOR Fund:
At the present time the portfolio is holding ~$4,000 in Cash for re-investment.
I have also taken a look at current evaluations and note that DHF is “only” paying a dividend of ~8% (8.04% according to Yahoo, 7.93 according to cefconnect.com). DHF is also currently trading at ~11% discount to NAV. This is not normally a situation where I might sell current holdings, however, I note that CPZ is currently paying over 10% and is trading at a 12% discount to NAV. I therefore plan to switch these 2 funds. With the excess Cash I will also buy shares in FAX and GLQ to add to existing positions.
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