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PTCRX. Prospectus: http://ptam.com/documents/ptam-prospectus-ptcrx.pdf Brand new, as of 1/1/21. Deliberately HY. Great timing, or what? ;). They already offer Munis (PTIMX) and the other, multi-asset fund: (PTIAX.) Still just $10M or so in there, AUM. Already underwater, but not drastically. I just post it here for the benefit of any who might be interested.
@Crash: Thanks for the reminder. I do want to track it and get a feel for what they're doing with it.
From the fund overview, it's not all junk: it's showing 60% investment grade, with 23% in munis (taxable and tax-exempt), and the rest of the holdings are scattered around among corps, CMBS, RMBS, and CLOs. That lineup is definitely more credit exposure than PTIAX, but not too crazy.
@AndyJ. I own PTIAX, myself. "...That lineup is definitely more credit exposure than PTIAX, but not too crazy."
You mean, more varied, different SORTS of credit exposure? Only one cup of coffee today. I'm slow-moving my life--- until I get that 2nd cup. I recall that PTIAX owns a chunk of munis. Unless I miss my guess, PTIAX owns a slice of the SAME munis that are in PTIMX. ... (???) And of course, then there are the other credit creatures, too.
@Crash, I think it's just more credit exposure, but of roughly the same sorts of credit as PTIAX. Even in PTIAX, they've broken out into a more multisector strategy than their old simple barbell of munis and non-agency mortgages.
I've held PTIAX for years now. I think their strategy is a winner long term.
Comments
From the fund overview, it's not all junk: it's showing 60% investment grade, with 23% in munis (taxable and tax-exempt), and the rest of the holdings are scattered around among corps, CMBS, RMBS, and CLOs. That lineup is definitely more credit exposure than PTIAX, but not too crazy.
The overview is here.
You mean, more varied, different SORTS of credit exposure? Only one cup of coffee today. I'm slow-moving my life--- until I get that 2nd cup. I recall that PTIAX owns a chunk of munis. Unless I miss my guess, PTIAX owns a slice of the SAME munis that are in PTIMX. ... (???) And of course, then there are the other credit creatures, too.
I've held PTIAX for years now. I think their strategy is a winner long term.