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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.
  • Pimco Has A Manager Who Tops Dan Ivascyn. His Name? Dan Ivascyn
    I never know how to define 'core holding', but I guess PONDX is a fund I have faith in (faith in the manager). I'm in it and I tend to stay in it because it is to me the best multisector fund available. I like the adjustments the manager makes, like moving more globally in recent history and shortening duration substantially. And the secret derivative sauce seems to work. I actually might think of a core bond fund as one that stays fairly consistent in it's investments, like MWTRX or DODIX. I don't think PONDX can be classified as such. But if the definition of core becomes a fund you will stick with through thick and thin then, well, in that sense is core for me.
    I have 4 classified bond funds which I own because I'm hoping they are the place to be moving forward through rate hikes and an often talked about shift to global fixed income having better returns in the next 5 to whatever years.
    I own:
    PONDX because of the great management track record and it's flexibility
    PFIDX also has Ivascyn on the team, classified as a low duration floating income fund
    MAINX and PGMSX for the Asia and global sector
    All 4 funds are at about equal percentages. Also have a lot of bond exposure which I can't control within my 2 balanced funds, PRWCX and ICMBX... FWIW
  • VWINX
    The problem is one shouldn't really invest 100% in 1 fund like VWINX. It is just too risky to do that. If there was "guarantee" I would get 3%, keep my principle, year after year in retirement, accepting the occasional loss, is one thing. However, I need multiple funds like that invest in retirement to offset single fund list.
    In my Scottrade IRA, I keep a few "income" funds. I don't trade them. Not that I'm retiring, but just use remaining money to get in/out of stocks while I keep part of it always invested in income funds. VWELX/VWINX would be swell to own in this portfolio, but I just don't have that option. I'm making do with RNDLX, SIRIX, ETNMX, MAINX, RPHYX, RSIVX, PLMDX (for now) and IRNIX (contemplating)
  • Matthews View on Asia's Importance
    Hi Ben, I've got an equity-light portfolio that's slightly overweight Asia vs. the MSCI ACWI, with MAVRX and MEASX as most of the Asia punch; MEASX is really loaded with consumer names, which makes the overall Asia component pretty consumer heavy.
    My int'l and global funds don't contribute nearly as much to Asia holdings. I also have a new position in Asia debt that I'm planning to build as long as the coast is clear, in MAINX. The only other significant source I have for international fixed income is Pimco, and they tend to own very little Asia, but quite of bit of Latin America.
    Like Press, I also keep MINDX on watch - have owned it in the past, including recently, but don't particularly like it as a long-term holding with the P/E elevated as it's been.
    Best -- AJ
  • MCRDX vs. MAINX
    Looking at these 2 funds portfolio composition shows these are different
    asian debt funds
    MAINX is 50 % corporate debt, 35 % govt debt
    24 % of the debt is rated A to BBB-
    60 % is exposed to the US dollar
    duration is approx 3.5
    MCRDX is 67 % corporate debt, 11% govt debt
    4.6 % of the debt is rated BBB- (0% A rated debt)
    88 % is exposed to the US dollar
    duration approx 3.5
    data sets dated 3-31-2017
    MCRDX appears to be lower quality debt that is a play on the continued
    strengthening of the US dollar.
    These 2 funds IMO are not the same and should return different amounts
    as the US dollar trends either up or down.
    I feel an investor can include PREMX and FNMIX (to name a few) with these
    2 Mathews funds as EM debt exposure that in 2017 is mostly a bet on the
    future strength of the US dollar, as each fund must make a decision as to
    its currency exposure. (note the beta in EM debt funds immediately after
    the Trump election)
    At this time (3-31-2017) MAINX looks to be a more conservative fund
    for US investors. But I think neither should be considered low risk.
  • MCRDX vs. MAINX
    MCRDX vs. MAINX.
    What do we think about the younger fund, MCRDX? Teresa Kong runs that one, too. It's been in business, now, for exactly 1 year. April 29. Thanks for any input. MAINX has been quite reliable, I think.....
  • These Areas Hold Promise In Bonds After Topsy-Turvy Q1
    I looked at some random samples:
    PRSNX GLOBAL bond, past 3 months: 2.05%
    MAINX (Asia, but lumped into Global Bond categ. at M*: ) 1.83%.
    ..."The riskiest bonds outperformed sharply..." (Morningstar.)
    TPINX 4.89%
    PHMIX (HY Munis:) 3.31%
    PREMX 3.29%
    FNMIX: 3.62%
    ...And then there's the more conservative and investment-grade stuff:
    LSIIX : 1.96%
    DLFNX 1.19%
    DODIX 1.11%
    ....So, yeah. This jives. I don't do ETFs, though, so...
  • Matthews Funds - Why Invest in Asia? - Robert Horrock commentary
    Asia may be the future, just not likely in my life time.
    My EM fund is SFGIX which tends to over weight Asia. Also bought into MAINX last month in hopes it does better than domestic bonds during increasing interest rates.
  • Emerging Markets Bond Funds
    @MikeM. I sold out of my DLRFX since floating rate funds don't seem to be doing diddly. Regarding ACITX and the like, any reason you have not moved to "short term" version of the fund? I did so in Vanguard and TRP. Thinking going forward, the shorter duration versions would do better.
    I also have MAINX in my IRA.
  • Emerging Markets Bond Funds
    You don't need it, but I think EM bonds may do better than domestic bonds going forward. Not recommending for anyone else, but I've decided the bond funds I invest in now, besides the balanced funds I hold, should match interest rate hike expectations. So, right now my bond funds are SAMBX, ACITX, PFIDX, BXIAX and EM fund MAINX. I believe I have as many bond funds as straight equity funds, in fact I do...FWIW.
  • Emerging Markets Bond Funds
    I expect my global allocations funds to invest in emerging bond funds for me if they feel there is value. Or you could buy funds like MAINX. I agree with @Ted and in general don't try and buy very targeted fund or sector funds.
  • M*: How To Participate In The Emerging-Markets Rally
    EM bonds:
    FNMIX...... 10 year performance: +7.85%
    PREMX: +6.87%.
    Small-cap Value: TRP (PRSVX:) +6.92%
    PRDGX (TRP LC Div. Growth:) +7.3%
    Balanced: PRWCX: +8.16%
    MAPOX: +6.81%
    Global Bonds: PRSNX: (5 years) +4.94%. Too young for a 10-year number. By the way, MAINX will be 5 years old, soon. I no longer own it. But it looks good.
  • Where to put proceeds from sale of home for dividends/interest?
    Make sure to fund your Roth annually while working (as noted by Bee). If you are going to give money to (lucky) relatives you can bequeath the Roth IRA to them and their withdrawals will be tax free; they will have to pay taxes on Traditional IRA distribuitons. I also own sfgix/mainx and some of the VG funds mentioned but in IRAs.
    BTW push back SS as late as possible. I think every year of delay adds 8%ish to the SS money annually. There is much literature on this; Sam Lee laid this out in a M* article several years ago but it might only be available to newsletter subscribers.
  • Where to put proceeds from sale of home for dividends/interest?
    I might look over seas GAINX, MAINX, MACSX, or SFGIX
    Food for thought
    B
  • What are you pondering investing in today?
    @Crash said:
    @MikeW: " I'm currently pondering investing in Mathews Asia Strategic Income..." MAINX . I still track this one. I think that in spite of itself, it has shown itself to be a good choice. It's limited to Asia, though Morningstar puts it in their World Bond category. David Snowball has written quite positive things about it, too. M* reports 6.8% cash now. @Junkster said You have some nice performing funds there Crash.
    Opened new position in Asia High Yield,MCRDX. Managed by MAINX manager Theresa Kong,Own MAINX and DLENX in E M bonds.
    From Mattews Asia web site.Q and A with Ms Kong/Matthews Asia
    How do the returns for Asia credit compare to similar asset
    classes as well as other equity and fixed income asset classes?
    Most bonds in the portfolio will be sub-investment grade, or so-called
    ‘high yield’ bonds. Such investments should be considered speculative
    and may include distressed and defaulted securities. However, high
    yield bonds tend to provide high income in an effort to compensate
    investors for their higher risk of default.
    Over the long term, Asia high yield bonds have generated higher
    returns than European, Lat. Am and U.S. high yield bonds, with a
    lower level of risk.
    http://us.matthewsasia.com/resources/docs/pdf/QA/QA-Asia-Credit-Opportunities.pdf
  • What are you pondering investing in today?
    @MikeW: " I'm currently pondering investing in Mathews Asia Strategic Income..." MAINX . I still track this one. I think that in spite of itself, it has shown itself to be a good choice. It's limited to Asia, though Morningstar puts it in their World Bond category. David Snowball has written quite positive things about it, too. M* reports 6.8% cash now. Corporates 52%, Gov't stuff is 19%. Convertibles = 19%. .....Foreign bonds are on a tear. My EM bonds are in PREMX, other foreign bonds in PRSNX. Much smaller domestic holding: DLFNX. The only thing I've done lately is to throw a tiny bit more into SFGIX. TRGRX (RE) is doing very well. All of this is wonderful, including DJIA and S & P new highs. But uncle Josh Brown warns:
    http://thereformedbroker.com/2016/07/12/the-laws-of-capitalism-are-being-rewritten/
    You have some nice performing funds there Crash.
  • What are you pondering investing in today?
    @MikeW: " I'm currently pondering investing in Mathews Asia Strategic Income..." MAINX . I still track this one. I think that in spite of itself, it has shown itself to be a good choice. It's limited to Asia, though Morningstar puts it in their World Bond category. David Snowball has written quite positive things about it, too. M* reports 6.8% cash now. Corporates 52%, Gov't stuff is 19%. Convertibles = 19%. .....Foreign bonds are on a tear. My EM bonds are in PREMX, other foreign bonds in PRSNX. Much smaller domestic holding: DLFNX. The only thing I've done lately is to throw a tiny bit more into SFGIX. TRGRX (RE) is doing very well. All of this is wonderful, including DJIA and S & P new highs. But uncle Josh Brown warns:
    http://thereformedbroker.com/2016/07/12/the-laws-of-capitalism-are-being-rewritten/
  • discussion topics for Teresa Kong, Matthews Asia Strategic Income and Credit Opportunities?
    Dear friends,
    I'll have a chance to speak in person with Ms. Kong on the first evening of the Morningstar conference, approximately Monday at 6:00 Central. MAINX is coming up on its five-year anniversary, is virtually the only Asian income option out there and has done well; still, it has just $62 million in AUM. I'm apt to ask about the challenge of getting folks to think about niche income-oriented funds and about the degree of independence between the Asian and American interest rate regimes. And, generally, about who they think the audience for their Credit Opportunities fund will be.
    Are their other topics you'd like me to raise?
    As ever,
    David
  • Matthews Asia Announces Launch Of Asia Credit Opportunities Fund
    Very cool. Here's Teresa's performance with MAINX/MINCX since inception ...
    image
  • Very happy with Seafarer(SFGIX) but any other suggestions
    In my case, I have positions in SFGIX, MACSX and MAINX in my non-retirement portfolio and FTEMX in my retirement one.
    For what that's worth,
    David

    Hi David,
    Why relatively tax-inefficient funds in your non-retirement portfolio?
    Mona
  • Very happy with Seafarer(SFGIX) but any other suggestions
    I agree with the folks: there aren't many better options than Seafarer. You might imagine Mr. Foster's mantra as "safe and sane." If you wanted more of the same, you might consider DRESX, which offers hedged exposure to EM small caps, or FTEMX, which mixes EM stocks and bonds. If you wanted to go in the other direction and look for a (small!) position on the wild side, then I'd consider specialists in small companies, small countries and/or frontier economies.
    In my case, I have positions in SFGIX, MACSX and MAINX in my non-retirement portfolio and FTEMX in my retirement one.
    For what that's worth,
    David