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Deutsche High Income Trust
Ticker Symbol: KHI* CUSIP: 25155R100 Previous CUSIP: 23337C208 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/30/2016
Company's Online Profile
FUND DESCRIPTION: Deutsche High Income Trust, formerly DWS High Income Trust, formerly Scudder High Income Trust, formerly Kemper High Income Trust, is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Deutsche High Income Trust seeks to provide the highest current income obtainable, consistent with reasonable risk, with capital gains secondary. FUND STRATEGY: In normal circumstances, the Fund invests at least 65% of its assets in securities that provide the potential to result in high income for the Fund but which have speculative characteristics such as lower credit quality, currency exchange risk, liquidity constraints and/or risk associated with related options and hedging activities. Under normal market conditions, the Fund invests primarily in high-yield, high risk securities (commonly known as junk bonds). These securities have special risks including greater market price volatility, an increased likelihood that payments owed to the Fund will not be made, and possible difficulty in selling such securities. These securities are more likely to be affected by negative developments relating to their issuer or industry, and entail relatively greater risk of loss of income and principal than investments in higher rated securities. The Fund has the ability and intends to use leverage for investment purposes. Leverage creates the opportunity for increased income and capital gains for shareholders, but at the same time it creates special risks. FUND MANAGEMENT: Deutsche Investment Management Americas, Inc. serves as the investment manager to the Fund.
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Notes: July 13, 2016 -- Deutsche High Income Trust (KHI) announced today that its Board of Trustees has approved a Plan of Liquidation and Termination for the Fund related to the previously approved liquidation of the Fund to occur on or before November 30, 2016. As further described below, pursuant to the Plan, a final liquidating distribution is expected to be made on or about November 11, 2016. Under the terms of the Plan, the “Cessation Date” for the Fund’s planned liquidation is expected to occur on or about November 4, 2016. As provided in the Plan, at the close of business on the Cessation Date, the Fund will cease to engage in any business activities, except for the purpose of liquidating and winding up its affairs, and the books of the Fund will be closed. Effective the business day following the Cessation Date, the Fund’s shares will not be transferable (except for the settlement of prior transactions), and it is anticipated that trading in the Fund’s shares on the New York Stock Exchange will cease. The Fund will subsequently seek to reduce all remaining portfolio securities to cash or cash equivalents and make a final liquidating distribution to shareholders on or about November 11, 2016. All Fund shareholders as of the close of business on the Cessation Date will be entitled to receive a liquidating distribution. The Cessation Date may be extended if necessary or appropriate in connection with the orderly liquidation of the Fund or to protect the interests of Fund shareholders. Prior to the Cessation Date, the Fund intends to reduce and eliminate its financial leverage by paying back its bank line of credit. It is anticipated that the Fund’s de-levering will occur in stages over time and, subject to portfolio management’s discretion, may be completed as early as mid to late August. In addition, prior to the Cessation Date and subject to portfolio management’s discretion, the Fund intends to begin the process of converting its portfolio securities to more liquid investments, including cash or cash equivalents. As the Fund de-levers and begins to transition its portfolio to more liquid investments, its net investment income may decline, which, in turn, may reduce its remaining regular monthly dividends. The Fund’s last anticipated regular monthly dividend will be for the month of October. The Fund does not expect to pay its regular November monthly dividend. Any net investment income earned in November would consequently be included as part of the Fund’s final liquidating distribution to shareholders.
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IPO - 4/22/1988 -
Previous Name: DWS High Income Trust Changed: 8/11/2014
Small Cap Stock -
Market Value $146.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 345 Park Avenue, New York, NY 10154 |
| Main Phone Number |
212-250-3220 |
| Fax Number |
Not Available |
| Investor Contact
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800-349-4281
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| Toll Free Phone Number |
800-349-4281 |
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