Duff & Phelps Global Utility Dividend Fd : Bill Gross sees one or two Fed rate hikes in 2016: Barron's
April 10, 2016 at 01:39 pm EDT
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(Reuters) - Bond manager Bill Gross predicts that the U.S. Federal Reserve will raise interest rates once or twice in 2016, according to an interview in Barron's.
Gross, who is the manager of the Janus Global Unconstrained Bond Fund , told Barron's that he does not expect U.S. Treasury yields, which are currently around 1.7 percent, to change dramatically this year.
The 71-year-old portfolio manager said he sees investment opportunities in merger arbitrage situations, such as Berkshire Hathaway's (>> Berkshire Hathaway Inc.) acquisition of Precision Castparts last year or Anheuser Busch InBev's (>> Anheuser-Busch Interbrew) planned acquisition of rival SABMiller (>> SABMiller plc).
Duff & Phelps Utility and Infrastructure Fund Inc. (the Fund) is a non-diversified closed-end management investment company. The Fund's investment objective is to seek total return, resulting primarily from a high level of current income, with an emphasis on providing tax-advantaged dividend income, and growth in current income, and secondarily from capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in equities of domestic and foreign utilities and infrastructure providers. Under normal market conditions, the Fund may invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry and the infrastructure industry. The Fund invests in various sectors, including electric, gas, water, telecommunications, and midstream energy. The Fundâs investment adviser is Duff & Phelps Investment Management Co.
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC. 
