2024-06-30 11:13:12 ET
Summary
- MCI delivers high income with distributions fully covered by net investment income, outperforming benchmarks and peer group in the long run.
- Trust's focus on private placement securities may cause concern, but its positive track record and safety cushion from first lien senior secured loans provide some reassurance.
- MCI's high premium over NAV is not compelling. Potential investors may benefit from waiting for a lower entry point, despite strong performance and safe distributions.
The Barings Corporate Investors ( MCI ) has delivered what is expected from a high-yield fund, a high level of income based on distributions fully covered by net investment income. Furthermore, the MCI has outperformed benchmarks and the peer group over the long run....
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MCI: An Interesting CEF For Income-Oriented Investors, But Not Compelling At Current High Premium