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PCI - PCI: Expectations For Non-Agency Mortgage Debt Lower My Outlook
PIMCO Dynamic Credit and Mortgage Income Fund of Beneficial Interest
Main Thesis
The purpose of this article is to evaluate the PIMCO Dynamic Credit Income Fund (PCI) as an investment option at its current market price. PCI has been a strong performer for me for a long time, and we are entering a time period of the year where mortgage debt, which makes up roughly half of the fund's portfolio, often performs well. With PCI trading at a reasonable price compared to its peers and the low interest rate environment continuing, here and abroad, it could look like an opportune time to buy.