NCYF is a closed ended investment company investing in high yielding fixed interest securities.
More information can be found here.
It’s interesting because it is one of the few high yield funds out there who’s high dividends (over 7% the last 4 years) are covered by profits. And dividends have increased every year to boot.
Is is up to you to decide if the risk of investing in non-investment-grade corporate bonds is worth these attractive and so-far consistent dividends.