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Alliancebernstein Income Fund Message Board

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  • empire9988 empire9988 Jul 8, 2002 2:52 PM Flag

    Some thoughts

    On Mar 31, they had income of 51 mill and unrealized losses of 67 mill. That means they lost money in the quarter. Remember, it's an income statement. Income is money they recognised. That's interest and gains. Unrealized losses are just that, unrealized.

    Actually, the beauty of exchange rated funds is their simplicity. They're forced to declare unrealized losses which opens up their books for all to see.

    IN a bond fund, take nav and multiply it by an interest rate applicable to the same quality and duration bond that are currently out there and you'll get the interest they WILL MAKE. Any gains from interest rate moves will be unrealized gains but remember, ANY BOND OF A SIMALAR QUALITY WILL GET THE SAME GAIN.

    That's why you don't buy gov't funds at a premium! (Or corporates for that matter) Junk is different

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