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PMF - Even With Income Cut PMX Still A Relative Value
PIMCO Municipal Income Fund
Main Thesis
The purpose of this article is to evaluate the PIMCO Municipal Income Fund III (PMX) as an investment option at its current market price. PMX is a CEF invested in municipal ((muni)) debt but without the single state focus of many PIMCO offerings. While I still see plenty of value in buying state-specific muni CEFs, investors who do not reside in either California or New York have limited choices when it comes to maximizing tax advantages. Such investors would likely be better served buying a multi-state muni fund, such as PMX.