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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.
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TAI vs. ETF Alternatives
Under normal market conditions the Fund will invest at least 80% of its assets in fixed income debt securities or cash and equivalents.The Fund will seek as high a level of current income as is consistent with prudent investment.;
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