Insight Select Income Fund Declares Quarterly Dividend and Announces Change in Portfolio Management Team
The Insight Select Income Fund (INSI) (the “Fund”) today declared a quarterly dividend of $0.20 on June 12, 2019, payable on August 21, 2019, to shareholders of record at the close of business on July 19, 2019, with an ex-dividend date of July 18, 2019.
Based on the Fund’s last four quarterly dividend payments, the Fund’s annual dividend payment from ordinary income equates to approximately $0.80 per share.
In addition, effective immediately, the Fund’s portfolio management team at Insight North America LLC has changed as follows: Mr. James DiChiaro joins Mr. Gautam Khanna as a portfolio manager. Messrs. Jason Celente and Gerard Berrigan will no longer have day-to-day portfolio management responsibilities for the Fund. Mr. DiChiaro has served as a Senior Portfolio Manager at Insight North America LLC and its predecessor firms since 1999.
The Fund is a diversified closed-end management investment company whose investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. The Fund will also seek capital appreciation principally by purchasing debt securities at prices that the Adviser believes are below their intrinsic value. The Fund will also look to benefit from trading securities to optimize the risk adjusted yields in the Fund. Insight North America LLC, the Fund’s investment adviser, provides fixed income asset management to a variety of institutional clients including corporations, governmental entities, employee benefit plans, private funds and registered investment companies.
This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distribution that have been declared by the Board of Trustees. A portion of the Fund's current distribution may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Fund. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.
An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.