Discretionary Investment Services and Investment Strategies
Our advisory services are offered to you on a discretionary basis, meaning that you provide us with the ability to buy and sell investment in your account without asking you in advance. You may place limits on our discretionary authority. For example, you may limit the types of securities that we may invest in without your approval.
1. Investment in closed-end funds
Within the closed-end fund investment strategies, the advisor currently has six (6) sub-strategies, all within its Managed (Composite) Portfolio Program:
• Herzfeld Balanced & Flexible Composite
• Herzfeld Fixed Income Composite
• Herzfeld Foreign Equity & Fixed Income Composite
• Herzfeld U.S. Equity Composite
• Herzfeld Tax-Exempt (Municipal Bonds) Composite
• Herzfeld Special Situations Composite
2. Investments in the Caribbean Basin
The Firm also provides investment advisory services with respect to the Caribbean Basin. The Firm’s Caribbean Basin investment objective is to obtain long-term capital appreciation by investing primarily in equity and equity-linked securities of public and private companies, including U.S. based companies, (i) whose securities are traded principally on a stock exchange in a Caribbean Basin Country or (ii) that have at least 50% of the value of their assets in a Caribbean Basin Country or (iii) that derive at least 50% of their total revenue from operations in a Caribbean Basin Country. Caribbean Basin Countries include Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the former Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia, the United States and Venezuela.