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AI brief of an SEC Form 8-K · FLAHERTY & CRUMRINE TOTAL RETURN FUND INC (FLC)

Flaherty & Crumrine Total Return Fund changes investment policy effective February 21, 2017

Neutral Impact 3 of 5 other Written later

The fund will change its credit-quality investment policy effective February 21, 2017. The new policy requires at least 90% of managed assets to be investment grade or issued by companies with investment-grade issuer or senior unsecured debt ratings, replacing an 80% test, and allows up to 10% in below-investment-grade securities of investment-grade issuers.

Key points

  • Investment grade requirement rises from at least 80% to at least 90% of managed assets at purchase, effective February 21, 2017.
  • The fund may buy below-investment-grade preferreds of investment-grade issuers, subject to a 10% limit.
  • The adviser cites that investment-grade rated preferreds fell to about 62% of the market, from 90% before the financial crisis.

The filing

CompanyFLAHERTY & CRUMRINE TOTAL RETURN FUND INC (FLC)
Form8-K, current report
Filed with the SECJan 20, 2017, 5:29 PM ET
Accession number0001193125-17-014330

Items reported: 8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 20, 2017.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.