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Credit Suisse Asset Management Income Fund (NYSEMKT:CIK) invests in a diversified spectrum of high yield fixed income markets primarily in the United States. The fund's objective is to generate consistent and solid current income while preserving its capital. In other words, the business is not very sexy, unless of course you are looking for a continued and steady, modest yet respectable, income.

The stock is stable with a Beta of .38, and they make consistent monthly dividend payments. Since dividends were initiated in 2007, they have consistently paid a stable dividend in the range of .026-.03 cents per share per month. The current dividend yield is a healthy 7.7.% In fact, in order to maximize profits I recommend setting up DRIP (Dividend reinvestment). Additionally, the leverage ratio is just under 13%.(this compares well with other closed-end funds which are top industry performers EVY, LBF, and NAN whose leverage ratios are 39%, 30%, and 34%, respectively).

Since bottoming out in 2009 around $2.00 during the financial crisis the stock has been steadily heading north with the exception of a coupe of sharp down turns which had very quick ensuing recoveries. See the chart below.

(click to enlarge)

Moreover, based on public filings, insider transactions are a very bullish indicator. In fact over the past two years, according to Yahoo Finance (via Edgar) there have been 20 reported insider transactions, 19 of which were purchases. The one sale occurred Dec. 2011. See Chart below.

Date

Insider

Shares

Type

Transaction

Value*

25-Dec-12

BOVARNICK TERRY FIRESDirector

1,039

Direct

Purchase at $3.80 per share.

3,948

25-Dec-12

FOX LAWRENCE JOSEPHDirector

2,078

Direct

Purchase at $3.80 per share.

7,896

25-Dec-12

RAPPAPORT STEVEN NOfficer

2,078

Direct

Purchase at $3.80 per share.

7,896

25-Dec-12

CATTANO JAMESDirector

1,039

Direct

Purchase at $3.80 per share.

3,948

25-Dec-12

ARZAC ENRIQUE RDirector

1,039

Direct

Purchase at $3.80 per share.

3,948

24-Jul-12

BOVARNICK TERRY FIRESDirector

1,067

Direct

Purchase at $3.70 per share.

3,947

24-Jul-12

FOX LAWRENCE JOSEPHDirector

2,135

Direct

Purchase at $3.70 per share.

7,899

24-Jul-12

RAPPAPORT STEVEN NOfficer

2,135

Direct

Purchase at $3.70 per share.

7,899

24-Jul-12

CATTANO JAMESDirector

1,067

Direct

Purchase at $3.70 per share.

3,947

24-Jul-12

ARZAC ENRIQUE RDirector

1,067

Direct

Purchase at $3.70 per share.

3,947

26-Dec-11

BOVARNICK TERRY FIRESDirector

995

Direct

Purchase at $3.59 per share.

3,572

26-Dec-11

FOX LAWRENCE JOSEPHDirector

1,991

Direct

Purchase at $3.59 per share.

7,147

26-Dec-11

RAPPAPORT STEVEN NDirector

1,991

Direct

Purchase at $3.59 per share.

7,147

26-Dec-11

CATTANO JAMESDirector

995

Direct

Purchase at $3.59 per share.

3,572

22-Dec-11

BOVARNICK TERRY FIRESDirector

9,100

Direct

Sale at $3.67 per share.

33,397

24-Jul-11

BOVARNICK TERRY FIRESDirector

943

Direct

Purchase at $3.79 per share.

3,573

24-Jul-11

FOX LAWRENCE JOSEPHDirector

1,886

Direct

Purchase at $3.79 per share.

7,147

24-Jul-11

RAPPAPORT STEVEN NDirector

1,886

Direct

Purchase at $3.79 per share.

7,147

24-Jul-11

CATTANO JAMESDirector

943

Direct

Purchase at $3.79 per share.

3,573

24-Jul-11

ARZAC ENRIQUE ROfficer

943

Direct

Purchase at $3.79 per share.

3,573

Additionally, with a book value of 1.09 the current valuation is fair. In fact, the slight premium to book value is a sign that the market is confident in the management teams ability to continue to perform steadily in the future.

The fund stacks up extremely well against its top rated competitor funds. In particular, its expense ratio of 0.73 is the lowest amongst its peers, (see chart below). Additionally, since it's a closed end fund, it has no front end or back end load.

Lastly, CIK's one- and three-year returns have been STRONG as well as STABLE, 16.16% and 15.08% respectively. In fact, its five year return of f 14.65% is in the same range. Consistency, consistency and more consistency. Solid returns, solid return, and more solid return. See the chart below for details.

TOP Rated Funds- Corporate High Yield

name

ticker

1 yr return

3 yr return

expense ratio

PIMCO Corporate and Income Oppty

PTY

27.81

22.5

1.05

Helios High Yield Fund

HHY

7.12

20.28

2.21

ProShares Ultra High Yield

UJB

17.61

n/a

0.95

PIMCO Corporate and Income Strategy

PCN

20.14

19.35

1.32

BlackRock High Income Shares

HIS

14.42

16.9

1.54

MFS Interm High Inc

CIF

10.8

17.33

1.73

Credit Suisse Asses Mgmt

CIK

16.16

15.08

0.73

BlackRock High Yield Trust

BHY

20.41

17.51

2.01

Peritus High Yield ETF

HYLD

12.78

n/a

1.35

Invesco High Income Tr II

VLT

17.24

14.88

1.93

Source: Credit Suisse Asset Management Income Fund: Healthy Business, An Even Healthier Dividend