Wouldn't be thrilled by a .005 div cut, but could certainly live with it. From your post Captain, I gather you're pleased with fund's management of risk that came with this summer's rate volatility. What grade would you give him/her? Also, what interest rate enviornment are we rooting for going foward to avoid a div cut? thx in advance.
Pleased would be going too far. They did their job as I would define it. I guess that's a B.
As to the interest rate environment you want, I think a trading range between the high threes and low fours on the benchmark, coupled with a sense that the economic recovery will be tepid, would produce the best results for the fund.