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Pimco Corporate & Income Opport Message Board

  • asymptotic_lar asymptotic_lar Feb 2, 2013 9:49 PM Flag

    This year Gross agains recommends PTY in Barron's roundtable

    Gross: "My last pick, which I have recommended before, is Pimco Corporate & Income Opportunity [PTY]. I challenge any of you, without researching it, to tell me about another fund or stock that has paid more in dividends in the past five years than you could have bought it for five years ago, and, at the same time, has doubled its book value or net asset value. In the past five years, this fund has paid $12 in dividends. It sold for about $12 in December 2007. Now it trades around $20.

    Witmer: That is excellent, but I can think of a lot of stocks that are up that much or more from their 2009 bottom.

    Gross: PTY had a 12% yield last year, including regular and special dividends. It will yield about 8% in the future, and probably more if the board authorizes more special dividends. I recommend the fund as a yield substitute, with a greater degree of safety than BlackRock Build America."

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