Colliers Securities chief global strategist Mark Grant joined "Varney & Co." on Tuesday to discuss funds that yield up to 50%.

"I think they're safe," Grant expressed while discussing Nuveen Credit Strategies Income Fund (JQC) and Eagle Point Credit Company (ECC).

"I spend three or four hours every Saturday morning going through all these funds. I've never had a fund that didn't pay their dividend that I'm using. Some have cut them, some have raised them, but they've all been paying their dividend, and they pay," Grant explained. 

According to Grant, the funds use dividend yields of over 10% with some yielding more than 50%, and pay monthly dividends that can be sent to the client or reinvested each month.

The market strategist argued that the fund's monthly payments mean "great news" for people, particularly seniors, retirees and charities.

"So every month you get money and I call people and say, ‘You have so much money, cash from the dividend in your account,’" Grant explained, adding that some clients would prefer to reinvest, while others opt to buy a new appliance.

"The more money you build up because the dividends are based upon the principal value, the more money you're gonna get next month," he explained.

"All the funds I use as a steward have a history of paying their dividends that I can get on Bloomberg, frankly," he added, while discussing European Commodity Clearing (ECC).

"I go through them to make sure they're all paying consistent dividends. And then I look at what's called coverage, which means that they're earning more than they're paying out in the dividend. And that's another criteria that I use," Grant described.

Grant explained that his 'strategy is income.'

"Here's more money every month," he concluded.