Part II - The Core Income Portfolio Is Born
In part I of this report, we discussed the differences between an annuity which eliminates longevity risk and smoothes "returns" and an income stream from yield-focused assets like a one-position portfolio. Annuities can have a significant drawback of eliminating liquidity and legacy to children and charities. The second part will focus more on the portfolio approach and why it is needed today.
We have been managing portfolios that include closed-end funds ("CEFs") for nearly two decades, incorporating them into mutual fund and ETF portfolios to