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Guggenheim Defined Portfolios, Series 846 offers units of funds
By Toni Weeks
San Diego, Dec. 7 - Guggenheim Defined Portfolios, Series 846 has registered units of its Income and Treasury Limited Duration Portfolio of Funds (15-month), Series 16, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
A previously reported, the trust seeks to provide current income and the potential for capital appreciation. Under normal circumstances, it will invest at least 80% of its assets in (a) common shares of closed-end companies that invest in various income-oriented securities of different asset classes, and (b) shares of an exchange-traded fund that invests most of its assets in short-term U.S. Treasury bonds.
The asset classes may include, among others, government bonds, mortgage-backed bonds, convertible bonds, preferred securities, corporate bonds, senior loans, high-yield securities and international bonds.
On the Dec. 7 inception date, the trust was comprised of $150,191 in contracts to purchase securities, according to court documents. The 15,171 units each have a public offering price of $10.00 and a net asset value of $9.625 per unit.
Each unit carries a maximum sales fee of 2.95%, which is comprised of an initial sales fee of 1%, a deferred sales fee of 1.45% and a creation and development fee of 0.5%. Sales charge reductions of up to 1.5% of the public offering price are available based on the amount of the investment, according to the S-6.
The trust will terminate on March 7, 2013.
Guggenheim Funds is a subsidiary of Guggenheim Partners, LLC, a financial services firm based in Chicago and New York.
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