To seek high current income, with capital growth as a secondary objective through investing at least 65% of its total assets in high yield bonds, debentures, notes, corporate loans, convertible debentures, and other debt instruments rated below investment
Dec. 11, 2013, 5:13 PM
Dec. 6, 2013, 5:31 PM
Aug. 6, 2013, 12:30 PM
- With equity guys greedy and fixed income fans fearful, maybe it's time to go the other way.
- Portfolio manager David Tepper (not that David Tepper), finds 10 closed-end bond funds who have negative YTD and Y/Y returns even as their net asset values have risen over the same periods: TAI, HIX, HHY, HIO, FTF, HAV, HIH, PIM, PPT, FMY.
- Several other closed-end funds run by high-profile names used to command hefty premiums, but now trade at discounts to net asset value. Among them are Jeff Gundlach's DBL and DSL and Pimco's PCI, PDI, PFN, and PFL.