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Pimco High Income Fund Pimco Hi Message Board

  • pattysmcgroup pattysmcgroup Nov 13, 2008 8:00 PM Flag

    stuff re PHK

    OK I spoke to the closed end fund analyst at the firm I clear threw. He said no such application (DVD-BVD suggestion)exists to his knowledge and that they would be very very unlikely to be granted such a request.
    he also said that they could go to a "line of credit system, " instead of the ARPS but that they would have less leverage. so he doesn't think they would go that route. He also said the 30 day rule is actually 60 days they have 30 to wait for the mkt to recover and another 30 to sell bonds. He called PIMCO for me and they told him they are working on it and they have some creative idea's because they really don't want to sell anything. which he says he does not doubt because they "are" the bond mkt. He also said when I pressed him that he thinks they would only have to reduce the div by 25% to cure. He then said that there was a WSJ story that big institutions are buying these type of funds.
    Now for who I think it was cent? for the record when I spoke to the girl at PIMCO I did no tell them to sell or not, just to communicate to the mkt so the price doesn't come under so much pressure.

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