With yields low, fixed-income funds are taking on more leverage to keep yields reasonable....
With yields low, fixed-income funds are taking on more leverage to keep yields reasonable. Pimco's giant upcoming Dynamic Credit Income Fund may borrow up to 42% of its net assets, according to a filing last week. The Dynamic Income Fund (PDI) has ridden leverage to return 29% (including dividends) in less than a year since it was launched. Fund manager Daniel Ivascyn was a buyer of 76K shares 2 weeks ago.
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