PIMCO Corporate Opportunity Fund: One Stellar, Sustainable Yield

As a value investor, I enjoy picking stocks. I enjoy the process of selecting companies that I feel the market has temporarily mis-priced. With that said, I do select a fair amount of funds for my portfolio as well. I have found that using exchange-traded funds provides needed diversification and exposure to otherwise unreachable segments of the market. Traditionally, I have not been a big fan of closed-end funds. They typically trade at low volumes, thereby creating liquidity issues. They often trade at a distant premium to net-asset value (NAV). Recently, though, I have found a closed-end fund that I can get behind. I came across the fund in Barron's 2011 Roundtable (part 2); All Over The Map, January 22nd. The Pimco Corporate Opportunity Fund (PTY) is managed by Bill Gross, Founder and Co-Chief Investment Officer of Pimco. PTY was listed as one of two picks from Bill Gross in the article. Let's look at the details of the fund.... Read more

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