The Herzfeld Caribbean Basin Fund Inc.
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- The Herzfeld Credit Income Fund, Inc. (formerly The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA), ticker changed to HERZ) is a non-diversified, closed-end management investment company that seeks to maximize risk-adjusted total returns with a secondary objective of generating high current income through investments primarily in equity and junior debt tranches of collateralized loan obligations (CLOs); CLOs comprise portfolios of below investment grade U.S. senior secured loans to diverse borrowers across multiple industry sectors. Previously focused on long-term capital appreciation via equity securities of companies benefiting from economic, political, structural, and technological developments in Caribbean Basin countries including Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia, and Venezuela; the fund employed fundamental analysis across diversified sectors such as tourism, shipping, communications, banking, and energy. The fund maintains a policy targeting an annual distribution rate of 15% of net asset value (NAV), with recent distributions comprising long-term capital gains and return of capital; it is managed by Herzfeld/Cuba, a division of Thomas J. Herzfeld Advisors, Inc., under an amended advisory agreement featuring a 1.25% management fee on managed assets and a 10% incentive fee above a 9% hurdle rate. Founded on March 10, 1992 and headquartered at 10491 Southwest 97th Avenue, Miami, Florida, United States, the fund operates principally in U.S. capital markets with exposure to domestic CLO structures. In June 2025, stockholders overwhelmingly approved (approximately 96% in favor) a major strategic shift at a special meeting on June 17, including adoption of the CLO equity strategy, revision of investment objectives and fundamental policies on borrowing, senior securities, industry concentration, real estate, commodities, and lending, and the amended advisory agreement; these changes took effect July 1, 2025, accompanied by a name change to Herzfeld Credit Income Fund, Inc. and ticker symbol update to HERZ on July 7, 2025, marking the conclusion of over 30 years of Caribbean Basin-focused investing. The fund commenced a cash tender offer in October 2024 for up to a specified number of shares, as initially announced on October 3 and formalized on October 15; it continues regular distributions, with the Board recently enhancing flexibility in timing (quarterly, semi-annual, or annual) while upholding the 15% NAV target rate.
Green Leaf Innovations Positioned for Massive Growth as Premium Cigar Market can Expand in the Island of CUBA
Herzfeld Credit Income Fund, Inc. Announces Board Approval of Change in Dividend Reinvestment Policy
The Herzfeld Caribbean Basin Fund, Inc. Pays Distribution
The Herzfeld Caribbean Basin Fund, Inc. Announces Results of Special Meeting of Stockholders; Approval of Conversion of Fund to CLO Equity Strategy
The Herzfeld Caribbean Basin Fund, Inc. Announces Distribution in Stock and Cash
It's Raining CLO Equity CEFs And Why We Got Longer
The Herzfeld Caribbean Basin Fund, Inc. Announces Special Meeting of Stockholders to be Held on June 17, 2025
CEF Weekly Review: Bull Market In CLO Equity CEFs
Weekly Closed-End Fund Roundup: CUBA Jumping On CLO Bandwagon (April 13, 2025)
The Herzfeld Caribbean Basin Fund, Inc. Pays Distribution
Closed-End Funds: Screening For Potential Opportunites To Kick Off Q1 2025
The Herzfeld Caribbean Basin Fund, Inc. Announces Cash Distribution
The Herzfeld Caribbean Basin Fund, Inc. Announces Retirement of Thomas J. Herzfeld from the Board of Directors and Named Chairman Emeritus; Names Cecilia Gondor Chairperson; Brigitta Herzfeld Named to the Board
Herzfeld Caribbean Basin Fund Has A Timely Path To Trade At NAV Or Better
The Herzfeld Caribbean Basin Fund, Inc. Announces Final Tender Offer Results
The Herzfeld Caribbean Basin Fund, Inc. Announces Preliminary Tender Offer Results
The Herzfeld Caribbean Basin Fund, Inc. Commences Tender Offer for up to 5% of Outstanding Common Shares
The Herzfeld Caribbean Basin Fund, Inc. to Conduct a Tender Offer for up to 5% of Outstanding Common Shares
The Herzfeld Caribbean Basin Fund, Inc. Pays Quarterly Distribution
CORRECTION – The Herzfeld Caribbean Basin Fund, Inc. Announces Distribution in Stock and Cash