BUM
Thinks s/he gets paid by the post
IRS says gains from swaps are not qualifing income. Big problem for those funds that use swaps like PIMCO's Real Return Commodity Funds (PCRDX PCRIX)
On 12/22 a Morningstar report says PIMCO says don't worry we'll shift to "structured notes" like some others (Janus?) offer.
On 12/28 another report, just to be on the "safe side" Morningstar has removed the fund from the Analyst's Pick List.
With about $11Bil in the fund (some of it mine) and 6 months to comply, we are in for some big changes. Yesterday's 12% tank and the near term crude surpluses, spell problems ahead.
DCA time?
http://news.morningstar.com/article/article.asp?id=152458&fsection=Comm6
http://quicktake.morningstar.com/Fund/MorningstarAnalysis.asp?Country=USA&Symbol=PCRIX
On 12/22 a Morningstar report says PIMCO says don't worry we'll shift to "structured notes" like some others (Janus?) offer.
On 12/28 another report, just to be on the "safe side" Morningstar has removed the fund from the Analyst's Pick List.
With about $11Bil in the fund (some of it mine) and 6 months to comply, we are in for some big changes. Yesterday's 12% tank and the near term crude surpluses, spell problems ahead.
DCA time?
http://news.morningstar.com/article/article.asp?id=152458&fsection=Comm6
http://quicktake.morningstar.com/Fund/MorningstarAnalysis.asp?Country=USA&Symbol=PCRIX