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Clough Global Allocation Fund
GAMCO Global Gold, Natural Resources & Income Trust (GLV) is a closed-end fund listed on the New York Stock Exchange. The fund's investment objective is to provide a high level of current income, with capital appreciation as a secondary goal. It seeks to achieve its objectives by investing primarily in equity securities of companies involved in the gold and natural resource industries.
As of the most recent quarterly report (as of October 31, 2021), the fund's portfolio was comprised of approximately 93% equity securities, with the remainder in other investments such as cash and fixed income securities. The fund's top three holdings were royalty company Franco-Nevada Corp, gold mining company Newmont Corp, and silver mining company Wheaton Precious Metals Corp.
In terms of performance, the fund has had mixed results in recent years. For the year ended October 31, 2021, the fund had a total return of -2.55%. However, over the past 5 years, the fund has had an annualized total return of 3.82%, outperforming the S&P 500 index.
The fund's earnings are primarily derived from dividends and interest on its portfolio holdings, as well as any capital gains realized from the sale of its investments. The fund pays out a significant portion of its earnings as dividends to shareholders, with a current yield of around 7.5%.
As for growth, the fund has seen some growth in its net assets in recent years, although this has been somewhat volatile. As of October 31, 2021, the fund's net assets were approximately $444 million, up from $421 million at the end of the previous fiscal year. However, it is important to note that the performance of a closed-end fund like GLV can be affected by a variety of factors, including changes in the value of its portfolio holdings, changes in interest rates, and market conditions.
Overall, GLV offers investors exposure to the gold and natural resource industries, with a focus on current income. While the fund has had some growth in recent years, its performance can be volatile and may not be suitable for all investors. As with any investment, it is important to carefully consider the fund's investment objectives, risks, and fees before investing.