Opinions
Hank Cunningham
Pimco High Income Fund
PHK-N
TRADE
Jun 07, 2010
If this fund is available in a hedged fund, then he would not hesitate to recommend it. Default rates have fallen to less than 5% this year.
$11.360
Stock price when the opinion was issued
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COMMENT
The difference between closed and open is that for closed, there are no new stocks issued. It can sometimes trade at a premium, but more often at a discount to net asset value. An open ended fund can issue new units. There is often an element of leverage or covered call strategy to extract extra yield for securities that have high yields. Does not know specifically for PHK's strategy.
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