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Pimco Income Fund, Run By Dan Ivascyn, Whipsawed By Big Bond Rally: (PONAX)
FYI: Pimco group chief investment officer Dan Ivascyn’s Pimco Income Fund, the largest actively managed bond fund with assets of more than $130 billion, is lagging 93 percent of its category so far this year, according to Morningstar data as of Saturday.
PONAX is one of eight holdings found in the income sleeve of my portfolio. I have no plans to sell this fund but plan to add to it on continued weakness. Seems, some of the best funds, from time to time, falter. This is one of my main reasons that I invest in a good number of funds as this spreads manager and strategy risk over a number of funds rather than a few. Year-to-date PONAX is the worst performer within its sleeve while over a three, five, and ten year period it is one of the sleeve's best. In addition, it sports a nice yield.
The nice returns and low volatility comes at a cost - sometimes under-performing peers.
The WSJ entitled their article "Market Tumult Stings the New Bond King ". What happened to Jeffrey Gundlach, isn't he the Bond King, or was he already dethroned?
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The WSJ entitled their article "Market Tumult Stings the New Bond King ". What happened to Jeffrey Gundlach, isn't he the Bond King, or was he already dethroned?
https://youtu.be/n2GU8V9QlMw