Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Voya Asia Pacific High Dividend Equity Income Fund T.IAE


Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.


NYSE:IAE - Post by User

Comment by Kenshoon Feb 08, 2016 12:06pm
183 Views
Post# 24535712

RE:Points Raised

RE:Points RaisedDoug and DowntheFairway, thanks for your thoughtful posts.  I tend to agree with most of what you guys are saying.  But here's the thing.  When IAE comes up for its Spring RBL review, it will be - as always - a game of numbers.  It ain't personal, as they say, it’s just business.  If the numbers are there, then the banks will either maintain the level of credit or increase it.  If the numbers are not there, then they will adjust the credit down.  Now, back in November, IAE had its level of credit reduced by 21% from $650mil to $515Mil, correct?  It dropped because the price of oil had dropped from about $60 to $50.  At $50 Brent, IAE is a functional company going forward. Not great, but functional.  The problem now is that Brent is sitting 40% less than it was last November.  And IAE is NOT a functional company going forward based on the current forward strip for the PoO.  The banks will act according to the numbers that are most current.  And the current numbers are horrible and the forward strip is terrible as well.  Now, I agree that the PoO in ten months will most likely be above what the forward numbers are currently showing, but the banks have to use what is current – NOT what they think the PoO will be in the future.  And with that, IAE’s credit facility will be reduced substantially.  IAE will have to make this up in some way and I suspect we will see more dilution come in the spring.  Now will this kill the company?  No, but it will seriously eat into our potential gains.  Anyway, I’ve howled enough about this and will now let it go.

<< Previous
Bullboard Posts
Next >>
USER FEEDBACK SURVEY ×

Be the voice that helps shape the content on site!

At Stockhouse, we’re committed to delivering content that matters to you. Your insights are key in shaping our strategy. Take a few minutes to share your feedback and help influence what you see on our site!

The Market Online in partnership with Stockhouse