No. PIMCO lawyers are just cleaning up and simplifying the already broad investment guidelines. DUSPS delivered an "important notice" today from PIMCO regarding investment policy for PTY to be effective August 28, 2026. Document tracker is PTY_SUPP1_062426. See scan below for current and revised policy.
Should any PTY owner be concerned about this upcoming change?
FWIW, I've increased PTY based on the lower NAV volatility.
I'll make up my mind after 7/13 PIMCO ex-date.
Am I correct in saying that unlike stocks, the eventual drop in bondish-CEFs is more predictable and/or slower, allowing a more workable plan to flee to cash?
Anything you are considering in general? What are you keeping an eye on?
I don't think you are out in the weeds. Of course everyone's needs and portfolio size is different. At this point I have a very active travel budget thus large cash flow "needs". I have a lot of CEF's across multiple sectors. Everything in my market portfolio is there to create income. Growth will largely come by reinvestment. Although some of my equity income ETF's "should" grow in value over time as will some of the equity holdings. I'm not out to grow the pile in terms of value although mentally that is nice. I am out to continue and to grow my income stream to allow our lifestyle to continue. CEF's and other high yielding assets allow that to happen.Income YOY to date is up over 5%, with no reinvestment due to some pending tax issues. I mean if I was sitting on $20 million it would be a different story with a ton of muni's..but I'm not, thus CEF's.
IMO yes. Typically relatively slow moving interest rates/narratives are the primary drivers of CEF prices, while stocks are driven by stories/narratives that can be punctured in an instant. (Down 10% because earnings missed estimatesby a penny.)
Sure: depending on technicals: JFR BGH DMO WDI IAUI.
Is that an “eventual drop,” or is that just the rising and falling with interest rates? Maybe I’m confused as to what @sengsational meant by that.
Dick ... IAUI is new to me. Gold and High Income seem oxymoron to me. What is the yield? How do they achieve it?
You can Google it, but they sell calls for us usually high but variable distribution. D
Gotta ask him,,,,D
Sure, lots of stocks have relatively large quarterly distributions.....but I don't do stocks, just bondish income engines.
what are you anticipating for tomorrow - lower prices?
I bought a little IAUI when they first opened the fund. Bought more recently. For PM exposure own BCX, GGN, and also held CEF and SLVP during the runup (sold in Jan) I also hold CEFS and FOF which have/had a bit of a PM in their top 10 holdings.
After reimposing sanctions and attacking IRAN, probably. I just raised some more cash in the after market. Better safe.....
It's always interesting to me. I have been surprised in the past the day following attacks with a rise in the markets. Sometimes it just doesn't make sense.
