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Templeton Global Income Fund, I Message Board

  • knew_guy_ny knew_guy_ny Apr 24, 2003 7:34 PM Flag

    PTY & EAD

    For those looking for ideas, I'm a big fan of PTY & EAD. Both are new Closed End High Yield Bond Funds yielding 10.5% and 11% respectively.

    They originally traded at a 5% premium to their NAV's because of underwriting costs, but they are now close to parity.

    Because the portfolios are new, chances are that there will be fewer or no Enrons or Worldcoms in their portfolios.

    My view of these funds is that if the economy strengthens, the companies will strengthen and their debt ratings and bond prices will improve. If the economy goes nowhere, you get paid to wait.

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    • Nope , sorry NUV is not insured. NIO & NVG are insured. You could switch to either. NIO & NVG have better yields than NUV. NIO & NVG are leveraged while NUV is not. That probably accounts for the higher yield. All these funds are run by Nuveen.

      This type of information can be gotten on the website ETFCONNECT.COM

      Hope this helps, good investing to you

    • Thanks for recommending PTY. I sold half of my GIM holdings and shifted into PTY. The additional 4% in income was tempting. I trust PIMCO to do a good job, even though the fund is apparently too new to have yet disclosed its portfolio.
      In addition to individual munis and corporate bonds (e.g., Hasbro, D.R. Horton, Lyondell -- generally highest rating below investment grade, 5-8 years), I also own FAX and NLY for income. Both have done very well. FAX is a play on the Australian Dollar. NLY is a mortgage reit run by the best in the business which yields 12.5% even after a recent run-up.

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