HPS is a closed-end fund that pools investor money to buy a diversified portfolio of preferred stocks and other investment-grade fixed-income securities, aiming to generate regular income.
The fund earns income from interest and dividends on its holdings. Recent annual revenue was USD 0.05B with net income of USD 0.04B, though figures have fluctuated, including a net loss in 2023.
As a fund, HPS has no proprietary products or pricing power; it competes directly with other income funds like BlackRock Preferred Income and Nuveen Preferred Securities. Its moat is weak because investors can easily switch to similar offerings.
None yet
None yet
No comments yet.
Facts and opinions separated · All items sourced · Not investment advice
