my view is that the NAV has been depressed due to forced sales and the leverage scare. The NAV, while it is the current net asset value, is a value that reflects the fear in the market. Look at NIO...excellent credits in its portfolio but absolutely hammered [as were many other leveraged funds]. I keep these funds because I do not share the fear of collapse which has been evident in the prices. Could happen I suppose, but I think the values recently available present good opportunities. Just my view mind you