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  • bee September 2014
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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International House Cleaning

VintageFreakVintageFreak
edited September 2014 in Fund Discussions
CIOVX
I already sold CIOVX last week in my Scottrade Portfolio. Reading through the material Causeway sent, I think their pet peeve is fund has not garnered enough assets in spite of whatever else they might be saying. Also I'm a little miffed about mutual fund accounting rules or Causeways interpretation of them. How can they not know what investor liability is at the point of conversion? Their average NAV cost of CIVVX and CEMVX should determine that. CIOVX is owning THOSE securities. Also I didn't see any mention of taxable events to CIVVX and CEMVX. If $51M odd is being sold across those funds, stands to reason shares will need to be redeemed in CIVVX and CEMVX. In the case of CIVVX there seems to be enough uninvested cash to give to CIOVX shareholders, but then they should state that. In any case, I hate when my mutual fund company makes me think so much. I will look into a suitable replacement.

CVLOX
Selling this was always on the cards. Suspect Convertible expertise, Calamos' taking a back seat, and Gary Black. Now I'm reading Calamos Sr, is really pulling down his investments in even the income vehicles @Calamos of which Convertibles is such a big part. This fund is not doing what I wanted and is not being managed by those I wanted to be in control. Sell order in place @Schwab

PTHDX
As I have mentioned before, possibly utterly shameless behavior by Gudefin/PIMCO pretending manager has skin in the game, only to see she does not. Latest SAI dated 8/25/14 confirms she does not have a penny in the ONLY fund she is managing at PIMCO. Sell order in place @Schwab

Between SFGIX, FMIJX which I've owned for some time and recent FEBAX and CIPYX purchases which have substantial allocations internationally, I don't need any more for such coverage @Schwab. Will continue to DCA (sic) into FEBAX and CIPYX. And I've avoided potential infections of Excessive Funditis.

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