The Herzfeld Caribbean Basin Fund, Inc. Announces Change of Name and NASDAQ Ticker Symbol
The Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) announced a significant transformation, changing its name to Herzfeld Credit Income Fund and its ticker symbol to HERZ, effective July 7, 2025. The change follows stockholder approval on June 17, 2025, for converting the fund's investment strategy to a CLO Equity Strategy.
Under the new strategy, the fund will prioritize total return with a secondary focus on generating high current income. The investment approach will concentrate on equity and junior debt tranches of Collateralized Loan Obligations (CLOs), which consist of below investment grade U.S. senior secured loans across diverse industry sectors.
Il Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) ha annunciato una trasformazione significativa, cambiando il proprio nome in Herzfeld Credit Income Fund e il simbolo di borsa in HERZ, a partire dal 7 luglio 2025. La modifica 猫 avvenuta dopo l'approvazione da parte degli azionisti il 17 giugno 2025, per convertire la strategia di investimento del fondo in una Strategia CLO Equity.
Con la nuova strategia, il fondo dar脿 priorit脿 al rendimento totale, con un focus secondario sulla generazione di un elevato reddito corrente. L'approccio di investimento si concentrer脿 sulle tranche azionarie e di debito junior delle Obbligazioni Garantite da Prestiti (CLO), che comprendono prestiti senior garantiti statunitensi di qualit脿 inferiore all'investment grade in diversi settori industriali.
El Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) anunci贸 una transformaci贸n significativa, cambiando su nombre a Herzfeld Credit Income Fund y su s铆mbolo burs谩til a HERZ, efectivo a partir del 7 de julio de 2025. El cambio sigui贸 a la aprobaci贸n de los accionistas el 17 de junio de 2025 para convertir la estrategia de inversi贸n del fondo a una Estrategia de Capital CLO.
Bajo la nueva estrategia, el fondo priorizar谩 el rendimiento total con un enfoque secundario en generar altos ingresos corrientes. El enfoque de inversi贸n se centrar谩 en las tramos de capital y deuda junior de las Obligaciones de Pr茅stamos Colateralizados (CLO), que consisten en pr茅stamos senior garantizados de EE. UU. por debajo del grado de inversi贸n en diversos sectores industriales.
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Le Herzfeld Caribbean Basin Fund (NASDAQ : CUBA) a annonc茅 une transformation majeure, changeant son nom en Herzfeld Credit Income Fund et son symbole boursier en HERZ, 脿 compter du 7 juillet 2025. Ce changement fait suite 脿 l'approbation des actionnaires le 17 juin 2025, pour convertir la strat茅gie d'investissement du fonds en une Strat茅gie CLO Equity.
Dans le cadre de cette nouvelle strat茅gie, le fonds privil茅giera le rendement total avec un objectif secondaire de g茅n茅ration de revenus courants 茅lev茅s. L'approche d'investissement se concentrera sur les tranches de capitaux propres et de dette junior des Collateralized Loan Obligations (CLOs), compos茅es de pr锚ts garantis seniors am茅ricains de qualit茅 inf茅rieure 脿 l'investment grade, couvrant divers secteurs industriels.
Der Herzfeld Caribbean Basin Fund (NASDAQ: CUBA) hat eine bedeutende Umbenennung angek眉ndigt und 盲ndert seinen Namen in Herzfeld Credit Income Fund sowie sein B枚rsensymbol in HERZ, wirksam ab dem 7. Juli 2025. Die 脛nderung folgt auf die Zustimmung der Aktion盲re am 17. Juni 2025 zur Umstellung der Anlagestrategie des Fonds auf eine CLO Equity Strategie.
Im Rahmen der neuen Strategie wird der Fonds die Gesamtrendite priorisieren, mit einem sekund盲ren Fokus auf die Erzielung hoher laufender Ertr盲ge. Der Investmentansatz konzentriert sich auf Eigenkapital- und Junior-Debt-Tranchen von Collateralized Loan Obligations (CLOs), die aus US-amerikanischen Senior Secured Loans unterhalb der Investment-Grade-Kategorie in verschiedenen Branchen bestehen.
- None.
- Shift away from Caribbean Basin investment focus may impact existing investment thesis
- Increased exposure to below investment grade securities
- Higher risk profile due to focus on junior debt tranches
MIAMI BEACH, Fla., July 02, 2025 (GLOBE NEWSWIRE) -- The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the 鈥淔und鈥�) today announced that it has changed the name of the Fund to 鈥淗erzfeld Credit Income Fund, Inc.鈥� and that effective on or about July 7, the Fund will continue to trade on NASDAQ under the new ticker symbol 鈥淗ERZ鈥�.
On June 17, 2025, the Fund鈥檚 Stockholders approved the Fund鈥檚 conversion from its prior investment strategy to focus on a 鈥淐LO Equity Strategy鈥�. Under the new strategy, the Fund鈥檚 primary investment objective is a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or 鈥淐LOs鈥�. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.
About Thomas J. Herzfeld Advisors, Inc.
Thomas J. Herzfeld Advisors, Inc. (the 鈥淎dvisor鈥�), founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.
More information about the advisor can be found at .
Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund鈥檚 investment objective, risks, charges and expenses. Please read the Fund鈥檚 disclosure documents before investing.
Forward-Looking Statements
This press release, and other statements that the Advisor or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund鈥檚 or the Advisor鈥檚 future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as 鈥渢rend,鈥� 鈥減otential,鈥� 鈥渙pportunity,鈥� 鈥減ipeline,鈥� 鈥渂elieve,鈥� 鈥渃omfortable,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渃urrent,鈥� 鈥渋ntention,鈥� 鈥渆stimate,鈥� 鈥減osition,鈥� 鈥渁ssume,鈥� 鈥渙utlook,鈥� 鈥渃ontinue,鈥� 鈥渞emain,鈥� 鈥渕aintain,鈥� 鈥渟ustain,鈥� 鈥渟eek,鈥� 鈥渁chieve,鈥� and similar expressions, or future or conditional verbs such as 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渕ay鈥� or similar expressions. The Advisor and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and the Advisor and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following risk factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) portfolio fair value risk; (2potential conflicts of interest risk; (3) collateralized loan obligation risk; (4) covenant-lite loans risk; (5) subordinated securities risk; (7) high yield investment risk; (8default risk; (9) non-diversification risk; (10) leverage risk; (11) reliance on senior management personnel of the Adviser risk; (12) liquidity risk; (13) risks related to the Adviser鈥檚 incentive fee; (14) market risks; (15) inflation risk; (16) interest rate risk; (17) regulatory risk; (18) credit spread risk; (19) prepayment risk; (20) volatility risk; (21) equity risk; (22) foreign exchange rate risk; and (23) cybersecurity risk. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC鈥檚 website at www.sec.gov and on the Advisor鈥檚 website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on the Advisor鈥檚 website is not a part of this press release.
Contact:
Thomas Morgan
Chief Compliance Officer
Herzfeld Credit Income Fund, Inc.
1-305-777-1660
FAQ
What is the new name and ticker symbol for the Herzfeld Caribbean Basin Fund (CUBA)?
Why is the Herzfeld Caribbean Basin Fund (CUBA) changing its investment strategy?
What will the Herzfeld Credit Income Fund (HERZ) invest in?
When did shareholders approve the new investment strategy for CUBA/HERZ?
What are the main objectives of the new Herzfeld Credit Income Fund (HERZ)?
