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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.
HIO vs. ETF Alternatives
Seeks high current income with capital appreciation as a secondary objective. Invests at least 65% of its assets in high-yielding non-investment grade corporate bonds, debentures and notes of U.S. issuers. Up to 35% of its assets may be invested in common
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