It's a "Don't Buy" . When Mgt is sucking the life out of the income by taking 38% as Mgt Fees, no wonder the dividend had to be cut. Another case of Mgt stuffing themselves with fees at the shareholder's expense. Too similiar to what some REIT Companies Mgt does..Keep issuing new stock, dilute shareholders value, and line their own pockets with excessive fees to the detriment of shareholders. Sell on a rally and invest somewhere else.
Another Pimco Fund that has not done anything lately except lose money. I trusted my retirement money to Pimco Funds (this one and two others) and all of them have big losses. NEVER again will I trust Pimco with any of my money.What happened to them? So much for Bill Gross/Pimco and their reputation.