- KIO is a fixed income closed end fund from KKR focusing on high yield.
- The fund has a high concentration of CCC and Not Rated credits.
- With a very high leverage the fund is down -27% already year to date on a total return basis.
- The fundamentals in the KIO portfolio are weak, with a high probability for some of the credits to experience actual defaults during a potential upcoming recession.
- According to many market participants, including Deutsche Bank, there is a high probability a recession is in the cards for 2023.
For further details see:
KIO: Not Set Up For A Recession