PCI News and Press, PIMCO Dynamic Credit and Mortgage Income Fund of Beneficial Interest From 06/18/21

IHS Markit's PMI business surveys showed the economic recovery gaining momentum in May as output growth accelerated to the fastest for 15 years. Although growth of new orders accelerated globally in May to reach the highest since 2006, employment growth slowed marginally compared to A...

Diminishing economic uncertainty from COVID-19 should give rise to expectations of a normalisation of monetary and fiscal policy during 2022. Although there has been much discussion on the prospect of rapidly rising inflation, we believe growth risks remain paramount for equity invest...

Every month I add some positions to my portfolio and share the buys I've made. One of the funds I added to was ACV, which is to take advantage of the lull that tech has been in 2021 so far. FTHY and PDO were the two other funds picked up this month, both fixed-income focused funds...

PDO is a newly-launched CEF from industry-leading fixed-income investment management firm PIMCO. PDO trades at a small premium to its NAV, compared to its sister funds PTY, PCI, and PDI that trade from 9% to 39% premium to NAV. PDO is still investing its assets and yields 6.7% pai...

DBL takes a multi-sector approach to investing but invests most heavily in CLOs and MBSs. The fund's historical performance has been rather lackluster compared to other fixed-income options. The monthly distribution is attractive, and was well covered last time they reported. ...

PIMCO announced a proposed merger of PCI and PKO into PDI. We discuss some of its features, possible reasons as well as pros and cons for shareholders. Our main takeaway is that it's a marginal benefit for PCI shareholders but a less obvious win for PKO shareholders. For fur...

Every month I add some positions to my portfolio and share the buys I've made. Too much cash in a portfolio for too long can lead to poor performance, so I personally stick around with 10 to 12% cash when markets are at or near all-time highs. I'm already in this cash range, so th...

Revisiting my top ten closed-end fund positions and how they have changed from earlier this year. There have been a few changes to my top positions, including HTD and UTG now being my largest positions. 2021 has been a great year so far; for my portfolio and the broader markets. ...

As well as financing escalating government deficits, central banks face an additional problem of replacing contracting bank credit to the non-financial private sector if a slump is to be avoided. Banks are already reducing their credit allocations to the non-financial private sector. ...

PIMCO surprised investors by announcing a merger of two of their most popular funds into a third. Most of the arbitrage already is gone but we highlight some of our thoughts surrounding what's next and the distribution. I wrote to members this AM that I expected PDI to be down 1% ...