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The purpose of this article is to evaluate the PIMCO High Income Fund (PHK) as an investment option at its current market price. This is a fund I have avoided for years, despite regularly buying and recommending other PIMCO CEFs. As we move into the second half of 2020, I continue to see little merit in owning PHK. The fund has a history of distribution cuts, with another cut just announced at the beginning of June. Thus, while PHK's high yield looks attractive on the surface, the sustainability of it is