FAX is a closed-end, non-diversified investment company seeking current income through investment primarily in Australian debt securities. The fund may also achieve incidental capital appreciation. It won't this year. With a yield of 6.09% and a price loss of 3.21% this is not a winning position.
I'm afraid of all sovereign and municipal debt in the short term. The great argument at present is whether to raise revenue and cut spending or cut taxes and raise spending.
- 60% Barchart short term sell signal
- Barchart Trend Spotter (tm) sell signal
- Trading below both its 20 and 50 day moving average
- Relative Strength Index 46.16% and dropping