Summary of Fund Expenses Clause Samples
Summary of Fund Expenses. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares of the Fund would bear, directly or indirectly, as a result of an offering. The table reflects the use of leverage in the form of reverse repurchase agreements in an amount equal to approximately 43% of the Fund’s total managed assets (including assets attributable to reverse repurchase agreements), which reflects the percentage of the Fund's total managed assets attributable to such leverage as of December 31, 2021, and shows Fund expenses as a percentage of net assets attributable to Common Shares. The percentage above does not reflect the Fund’s use of other forms of economic leverage, such as credit default swaps or other derivative instruments. The extent of the Fund’s assets attributable to leverage following an offering, and the Fund’s associated expenses, are likely to vary (perhaps significantly) from these assumptions. Sales load (as a percentage of offering price) 1.00%(1) Offering Expenses Borne by Common Shareholders (as a percentage of offering price) 0.02% Dividend Reinvestment Plan Fees None(2) 1 Represents the maximum commission with respect to the Common Shares being sold in this offering that the Fund may pay to JonesTrading in connection with sales of Common Shares effected by JonesTrading in this offering. This is the only sales load to be paid in connection with this offering. There is no guarantee that there will be any sales of Common Shares pursuant to this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth in this table. In addition, the price per share of any such sale may be greater or less than the price set forth in this table, depending on the market price of the Common Shares at the time of any such sale. 2 You will pay brokerage charges if you direct your broker or the plan agent to sell your Common Shares that you acquired pursuant to a dividend reinvestment plan. You may also pay a pro rata share of brokerage commissions incurred in connection with open-market purchases pursuant to the Fund’s Dividend Reinvestment Plan. See “Dividend Reinvestment Plan” in the accompanying Prospectus. Management Fees(1) 1.95% Interest Payments on Borrowed Funds(2) 1.18% Other Expenses(3) 0.02% Total Annual Expenses(4) 3.15% 1 Management Fees have been restated to refle...
Summary of Fund Expenses. The following table contains information about the costs and expenses that common stockholders will bear directly or indirectly. The table is based on the capital structure of the Fund as of December 31, 2020 (except as noted below). The purpose of the table and the example below is to help you understand the fees and expenses that you, as a holder of common shares, would bear directly or indirectly. Sales Load (as a percentage of offering price) —%(1) Offering Expenses (as a percentage of offering price) —%(1) Dividend Reinvestment Plan Fees None Management Fees(2) 1.34% Interest Payments on Borrowed Funds(3) 0.47% Other Expenses(4) 0.38% Total Annual Expenses 2.19%
Summary of Fund Expenses. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares of the Fund would bear, directly or indirectly, as a result of an offering. The table reflects the use of leverage in the form of borrowings (e.g., loans, lines of credit) in an amount equal to 23.26% of the Fund’s managed assets and 30.31% of the Fund’s total net assets (with respect to each percentage, including the amounts of leverage obtained through the use of such instruments and/or borrowings), and shows Fund expenses as a percentage of net assets attributable to Common Shares. The percentage above does not reflect the Fund’s use of other forms of economic leverage, such as credit default swaps or other derivative instruments. The table and the example are based on the Fund’s capital structure as of August 31, 2023. The extent of the Fund’s assets attributable to leverage following an offering, and the Fund’s associated expenses, are likely to vary (perhaps significantly) from these assumptions.
Summary of Fund Expenses. Shareholder Transaction Expenses Annual Fund Operating Expenses (as a percentage of average net assets attributable to
Summary of Fund Expenses. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares of the Fund would bear, directly or indirectly, as a result of an offering. The table reflects the use of leverage in the form of borrowings (e.g., loans, lines of credit) in an amount equal to 32.28% of the Fund’s total assets (including the amounts of leverage obtained through such borrowings), and shows Fund expenses as a percentage of net assets attributable to Common Shares. The percentage above does not reflect the Fund's use of other forms of economic leverage, such as credit default swaps or other derivative instruments. The table and the example are based on the Fund’s capital structure as of August 31, 2020. The extent of the Fund’s assets attributable to leverage following an offering, and the Fund’s associated expenses, are likely to vary (perhaps significantly) from these assumptions.
Summary of Fund Expenses. 24 Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Market and Net Asset Value Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Summary of Fund Expenses. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares would bear, directly or indirectly. The table is based on the capital structure of the Fund as of [ ]. The table shows Fund expenses as a percentage of net assets attributable to Common Shares. The following table should not be considered a representation of the Fund’s future expenses. Actual expenses may be greater or less than those shown below. Sales Load(1) [ ]% Expenses Borne by Common Stockholders of the Fund(1) [ ]% Dividend Reinvestment Plan Fees [ ](2) Management Fee(3) 1.00% Dividend and Interest Expense on Short Sales [ ]% Interest Expense on Borrowings [ ]% Other Expenses(4) [ ]% Acquired Fund Fees and Expenses [ ]% Total Annual Expenses [ ]%
Summary of Fund Expenses. The following table is intended to assist investors in understanding the fees and expenses (annualized) that an investor in Common Shares would bear, directly or indirectly. The table is based on the capital structure of the Fund as of June 30, 2021. As of such date, the Fund had $21,000,000 of leverage outstanding pursuant to the USB Facility and preferred stock outstanding with a liquidation preference of $60,000,000. Such leverage represented 26.49% of Managed Assets as of June 30, 2021. The table shows Fund expenses as a percentage of net assets attributable to Common Shares as of June 30, 2021 and not as a percentage of gross assets or managed assets. The following table should not be considered a representation of the Fund’s future expenses. Actual expenses may be greater or less than those shown below. Sales Load (1) 1.00% Offering Expenses Borne by Common Shareholders of the Fund 0.07% Dividend Reinvestment Plan Fees (2) None Management Fee (4) 1.39% Dividends on Preferred Shares (5) 1.27% Interest Expense and Fees on Borrowings (6) 0.21% Other Expenses (7) 0.50% Acquired Fund Fees and Expenses (8) 0.46% Total Annual Expenses 3.83% The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares in the offering, assuming (1) payment in year 1 of a commission of $10 on the investment and estimated offering costs of $0.70,
Summary of Fund Expenses. The following table shows estimated Fund expenses as a percentage of net assets attributable to common shares as of June 30, 2021. The purpose of the following table and the example below is to help you understand the fees and expenses that you, as a shareholder, would bear directly or indirectly. The expenses shown in the table and related footnotes, along with the example, are based on the Fund’s capital structure as of June 30, 2021. As of such date, the Fund had $21,000,000 of leverage outstanding pursuant to the USB Facility. Such leverage represented 6.87% of Managed Assets as of June 30, 2021. Actual expenses may be greater or less than those shown below.
Summary of Fund Expenses. The following table and example are as of July 7, 2017 and are intended to assist you in understanding the various costs and expenses directly or indirectly associated with investing in Common Shares of the Fund. Some of the percentages indicated in the table below are estimates and may vary. Sales Load (as a percentage of offering price) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.50%(1) Offering Expenses (as a percentage of offering price) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.17%(2) Dividend Reinvestment Plan Fees (per sale transaction fee) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5.00(3) Management Fee(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.31% Interest Fees on Borrowed Funds(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.72% Other Expenses(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.24% Total Annual Operating Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.27%