Guggenheim Active Allocation Fund
GUG
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- Guggenheim Active Allocation Fund (NYSE: GUG) is a closed-end management investment company that seeks to maximize total return through a combination of current income and capital appreciation. The Fund employs a tactical asset allocation strategy, dynamically allocating across asset classes, and a relative value-based investment approach utilizing quantitative and qualitative analysis to identify securities with attractive risk/reward profiles; its sub-adviser combines a credit-managed fixed-income portfolio with diversified alternative investments and equity strategies. The Fund's core investments include a wide range of fixed-income and debt instruments ("Income Securities") such as government and agency securities, corporate bonds, loans and loan participations, structured finance investments (including residential and commercial mortgage-related securities, asset-backed securities, collateralized debt obligations, and risk-linked securities), mezzanine and preferred securities, and convertible securities of any credit quality, including non-U.S. dollar-denominated and emerging market issues; it also invests in common stocks, limited liability company interests, trust certificates, and other equity securities ("Common Equity Securities") offering yield or capital appreciation potential, employing covered call option writing, put option purchases or sales, and tactical models to optimize allocations between Income Securities and equities; additionally, the Fund accesses alternative investments such as options across asset classes, synthetic instruments, and derivatives, subject to limits including no more than 50% in common stocks, 30% in other investment companies or pooled vehicles, and 30% in non-U.S. issuers. Founded in 2021 and headquartered at 227 West Monroe Street, 7th Floor, Chicago, Illinois, the Fund is advised by Guggenheim Funds Investment Advisors, LLC and sub-advised by Guggenheim Partners Investment Management, LLC, with total managed assets of approximately $729 million, 23.70% leverage, and a scheduled dissolution on November 23, 2033 unless extended or amended. In a significant operational change, on December 15, 2025, the Fund entered into new Fund Administration and Accounting, Custody, and Foreign Custody Manager Agreements with The Bank of New York Mellon (BNY Mellon), replacing prior arrangements with MUFG Investor Services (US) LLC and earlier BNY agreements, to enhance administrative, bookkeeping, accounting, pricing, securities custody, and cash management functions without incurring termination fees. The Fund targets long-term investors seeking leveraged exposure to multi-asset income and growth in U.S. and select international markets, including up to 15% in collateralized loan obligations and restrictions on high-risk structured instruments rated CCC or below.