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Pacholder High Yield Fund, Inc. (the "Fund") is a diversified, closed-end management investment company with a leveraged capital structure. The Fund's investment objective is to provide a high level of total return through current income and capital appreciation by investing primarily in "high yield, high risk" fixed income securities of domestic companies. An investment in the Fund may not be appropriate for all investors, and no assurance can be given that the Fund will achieve its investment objective. The Fund is closed-end investment company. These companies differ from open-end investment companies (commonly referred to as "mutual funds") in that closed-end investment companies have a fixed capital base, whereas open-end companies issue securities redeemable at net asset value at any time at the option of the shareholder and typically engage in a continuous offering of their shares. Accordingly, open-end investment companies are subject to periodic asset in-flows and out-flows that can complicate portfolio management. Closed-end investment companies do not face the prospect of having to liquidate portfolio holdings to satisfy redemptions at the option of shareholders or having to maintain cash positions to meet the possibility of such redemptions. The Fund will, however, be required to have sufficient cash or cash equivalents to meet dividend payments on its preferred stock and to fund certain redemptions of the outstanding shares of preferred stock in certain circumstances. The Fund was organized as a corporation under the laws of Maryland on August 17, 1988 and has registered with the SEC under the Investment Company Act of 1940, as amended. The Fund's principal office is located at 8044 Montgomery Road, Suite 555, Cincinnati, Ohio 45236. The Fund's investment adviser is J.P. Morgan Investment Management Inc., an investment management firm registered with the SEC under the Investment Advisers Act of 1940. |
HOLDINGS
SECTION 16 FILINGS
