I like the 'In-Kind" strategy:

You don’t need to distribute cash. There’s no need to sell an asset in order to make the RMD. You can take the RMD in property, known as an in-kind distribution. That keeps your asset allocation unchanged.
For most IRAs, this involves simply directing the custodian to transfer a certain number of shares of a mutual fund or stock from the IRA to a taxable account. You have to be sure the value of the shares on the day of the distribution is at least equal to your RMD. The value on the day of the distribution is your tax basis in the asset. So, you’ll owe capital gains taxes in the future only on the appreciation after that day.
An in-kind distribution can be especially profitable when an asset’s value has declined and you believe the decline is temporary. Distribute the depressed asset and the value on that day will be taxed as ordinary income to you. But you’ll owe only tax-advantaged capital gains taxes on the appreciation that occurs after that.

8-strategies-for-optimizing-rmds-from-iras

https://www.sec.gov/Archives/edgar/data/1830437/000119312523078651/d465390d497.htm
497 1 d465390d497.htm 497
Filed pursuant to Rule 497(e)
File Nos. 333-249784 and 811-23615
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
Institutional Shares, Advisor Shares, Investor Shares, Class Z Shares
JOHCM GLOBAL INCOME BUILDER FUND
Institutional Shares, Advisor Shares, Investor Shares, Class Z Shares
Supplement dated March 24, 2023
to the Prospectus and Statement of Additional Information
dated January 27, 2023
On March 16, 2023, The Board of Trustees (the “Board”) of the JOHCM Funds Trust (the “Trust”) approved a plan of liquidation and termination (the “Plan”) for the JOHCM Credit Income Fund and the JOHCM Global Income Builder Fund (each a “Fund” and collectively the “Funds”) pursuant to the provisions of the Trust’s Amended and Restated Agreement and Declaration of Trust.
The liquidations of the Funds are expected to take place on or about May 26, 2023 (the “Liquidation Date”). Effective March 24, 2023, shares of the Funds will no longer be available for purchase by new or existing investors, other than through the automatic reinvestment of distributions by current shareholders. The Funds reserve the right, in their discretion, to modify the extent to which sales of shares are limited prior to the Liquidation Date.
Pursuant to the Plan, on or before the Liquidation Date, each Fund will seek to convert substantially all of its respective portfolio securities and other assets to cash or cash equivalents. Therefore, each Fund may depart from its stated investment objectives and policies as it prepares to liquidate its assets and distribute them to shareholders. During this period, your investments in the Funds will not reflect the performance results that would be expected if the Funds were still pursuing their investment objectives. Any shares of a Fund outstanding on the Liquidation Date will be automatically redeemed on that date. As soon as practicable after the Liquidation Date, each Fund will distribute pro rata to the Fund’s shareholders of record as of the close of business on the Liquidation Date all of the remaining assets of such Fund, after paying, or setting aside the amount to pay, any expenses and liabilities of the Fund.
At any time prior to the Liquidation Date shareholders may redeem their shares of a Fund pursuant to the procedures set forth under “How to Redeem Shares” in the Fund’s Prospectus. Shareholders may be permitted to exchange their Fund shares for the same class shares, in another series of the Trust, as described in and subject to any restrictions set forth in the section in the Prospectus entitled “How to Exchange Shares”. Such exchanges will be taxable transactions for shareholders who hold shares in taxable accounts.
The Funds may each make one or more distributions of net capital gains on or prior to the Liquidation Date in order to eliminate Fund-level taxes. Redemptions on the Liquidation Date will generally be treated like any other redemption of shares and may result in a gain or loss for U.S. federal income tax purposes. Shareholders should consult their own tax advisors regarding their particular situation and the possible application of state, local or non-U.S. tax laws. Please refer to the sections in the Prospectus entitled “Taxes” for general information.
This Supplement and the Prospectus should be retained for future reference.

Excerpted from The Independent Vanguard Adviser :
"Since Kilbride took over the fund in Feb. 2006, he has outperformed the market with less risk and beat his in-house index competition, Dividend Appreciation Index (VDADX), to boot. To put some numbers it, since April 2006 (the launch of the index fund competitor), Dividend Growth’s 9.8% annual return was 0.9% per year better than the 8.9% annual gains generated by both 500 Index (VFINX) and Dividend Appreciation Index. The fund held up better than the market during the Global Financial Crisis, the COVID panic and the current bear market."
"I expect Fisher will continue the approach Kilbride took while helming Dividend Growth — this should still be a portfolio of companies that produce a steady and growing stream of dividends. It’s not about getting the highest yield, but about owning companies that pay out a larger and larger dividend with each passing year."

@MikeM - Fair point. Perhaps it’s just coincidence that the name TRP selected for the new offering is: ”Capital Appreciation Equity ETF” and that David Giroux will manage it. Personally, for long time core equity holdings I prefer good actively managed mutual funds with a stable investor base. That said, I’ve used a couple different actively managed bond etfs and the ability of investors to move in and out didn’t seem to hurt their performance much. And I use one equity index etf - but rarely trade it.
Hope this goes well for TRP and their investor base. ISTM Price has experienced heavy outflows in recent years.

I transferred the securities in my TD account to Schwab in 2020 w/o any problems whatsoever, and got a decent transfer bonus. Maybe that's because I did it long before they actually began moving accounts? *shrug* (I moved early b/c I didn't want to deal with the chaos of another broker merger)

Again from The Military Wallet:

If you don’t want to wait for the Schwab acquisition to close, then Schwab will pay you to make the transition on your own. It might seem unbelievable that Schwab will pay up to $500 for you to move now, but it’s a pittance against the total cost of moving over a million of USAA’s wealth-management clients.

https://themilitarywallet.com/usaa-victory-capital-schwab/

A dividend from USAA would have been the right thing to have done for its members so I don't fault Schwab
The right thing to have done, as with any sale, was to have compensated the owners for the sale. USAA's members were customers receiving services. They were not owners merely because they were members.

Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA.

https://www.usaa.com/inet/wc/about_usaa_corporate_overview_main
However, USAA is a mutual company (not to be confused with a mutual fund) owned via Subscriber Savings Accounts. (This is similar to the way Vanguard customers own The Vanguard Group via investments in Vanguard funds.) It appears that members automatically get a Subscriber Account and via this account become owners of USAA.
http://www.savermetrics.com/2022/10/25/usaa-subscribers-savings-account-distribution-explained/
As suggested on The Military Wallet Site, owners (i.e. those with a Subscriber Account) would get some cash out of the sale:

All USAA members benefit from the sales to Victory and Schwab. By the end of 2020, USAA will have a new focus on insurance and banking– without trying to handle an investment branch. There might even be a little extra distribution in the Subscriber Accounts.

https://themilitarywallet.com/usaa-subscriber-savings-account-insurance-policy/
It looks like there was "a little extra distribution" to Subscriber Account holders, at least according to this member:

We receive two bonus checks annually as part of this relationship [with USAA].
The first for $412 was the annual distribution (dividend) from the Subscriber’s Account, a portion of the capital base for this mutual insurance company. USAA stated that the amount was partly from the sale of their asset management company as well as from their overall net income.

https://chipfilson.com/2020/01/remembering-long-time-members/
had I allowed Schwab to take custody of my accounts I would have had to liquidate my positions at USAA
Why would you have had to liquidate? Was Schwab requiring everyone to liquidate all positions, or just positions it couldn't hold. If it was the latter, are you now facing the same prospect - that your positions can be held by TDA but not by Schwab?

I transferred the securities in my TD account to Schwab in 2020 w/o any problems whatsoever, and got a decent transfer bonus. Maybe that's because I did it long before they actually began moving accounts? *shrug* (I moved early b/c I didn't want to deal with the chaos of another broker merger)
My own history with this account: Started at OptionsXpress, got fed up w/their platform, moved to ThinkorSwim. OptionsXpress got bought by Schwab. Then ThinkorSwim got bought by TD Ameritrade. Now TD and Schwab have merged. Le sigh.
I think OptionsXpress platform still serves as the basis for Schwab's StreetSmart, which I avoid using. Can't wait for ThinkDesktop to be fully online at Schwab!

@Devo,
I think the question has been answered above. I own FPA Queens Road Small Cap Value Fund I class since I owned its predecessor FPA Capital Fund. My broker has asked if I wanted to transfer my FPA account to them. I still keep the fund with FPA transfer agent since my history shows I was a FPA Capital investor despite not having $100K invested in the fund. Also, a brokerage may impose a restriction on my account (not verified as it may vary from brokerage to brokerage) since I do not have the $100K as required for the I class shares as well as should the fund close again, the brokerage may not allow additional investments.
You need to check with your broker on their requirements.

Yikes - everything soared at first. By the time I logged in to sell something they’d gone into reverse! Need a faster ipad! Precious metals / miners did end the day quite a bit higher, but cut their gains near day’s end. Bloomberg is saying something about a Yellen speech about the same time that caused the reversal?

My more depressing problem is that I have to take an RMD sometime this year out of a retirement account with no gains or even breakeven recovery and almost certainly no prospects for same.

I have been scheduling automatic RMD withdrawals in December. Now I am wondering if it might be better to just take them in early January so they might have a good chance of mirroring the value at the end of the year before.
On the other hand, I imagine you can't win timing this either.

My BSV, BND, STIP, VGIT etc. are all down so much I am holding, but I sure do get bummed every time my eyes glance past them looking to see how VONG or QQQ has been.
My more depressing problem is that I have to take an RMD sometime this year out of a retirement account with no gains or even breakeven recovery and almost certainly no prospects for same.

Who knows? Not the sharpest knife in the bond deck here. But I have a lot more bonds (thru funds) than cash. If short or intermediate duration bonds, they may possibly do better than cash over time without a whole lot of duration risk. Don’t overlook some capital appreciation if rates fall. Bonds / bond funds do move around in value day to day, so having some might temper portfolio volatility more than cash would if striving for balance. But it’s a close call.
I like global bonds as a hedge against a falling dollar. I’ve been moving my small bit of cash in and out of a GNMA etf, buying in at near 4% on the 10 year and unloading them when the 10-year nears 3.5%. So I’m currently out with the 10 year around 3.6%. That game will work until it doesn’t. Likely, interest rates are headed higher over the long term - which would kill that goose.
There’s no certainty any of the above will work out as planned. I usually operate differently than most here. So realize cash has been the “flavor of the month” for quite a few months now. The rates are currently attractive. Do I want to tear apart a balanced portfolio to throw a bunch into cash? No.
(PS - I don’t do TIPS. Others can debate the merits. I notice some added commentary below.)

AS reported in Barron's this week (my summary below, LINK), JPM is going into China,
"Mary ERDOES, JPM. RISK management in banking is essential. 3 recent bank failures (Silvergate, SVB, Signature) were partly from weaknesses in risk controls. The banking system as a whole is in much better shape now than during the GFC 2008-09 – the loan/deposit ratios are low; the capital ratios are high. There is much higher regulatory scrutiny for the systemically important banks (SIBs) than for smaller banks and may be new regulations can address that. Chances for US RECESSION are high (65%) and JPM is prepared; some sectors of the economy such as housing may be in recession already. FED’s path to +2% average inflation won’t be easy or smooth. After the disaster last year, the 60-40 portfolios look attractive for these volatile markets. ALTERNATIVE investments are fine for those who can take higher risks, but don’t overdo those as some university endowments have done. DIVERSIFICATION is useful but keep in mind that diversified mixes evolve; problems arise when investors get stuck on some fixed diversification mixes. HOME-COUNTRY biases are strong in the US but are everywhere. The ESG is in flux, and it is important to provide the asset managers the leeway on ESG. JPM is using AI for security and fraud prevention.
CHINA is challenging but important; even if you are not in China, it will affect your investments. After 100+ years in China, and lots of efforts there, JPM can now own 100% of its joint-ventures and it has big expansion plans targeted for the Chinese population. But JPM stays away from the politics of the US-China relations. JPM sent a delegation to UKRAINE in February because JPM is #1 debt issuer for Ukraine; it gave Ukraine 2-yr payment deferrals after the war started; it will also be involved heavily in post-war reconstruction and redevelopment (and some thought that JPM was pulling a stunt with its Ukraine trip)."

Excerpt from Bloomberg,

A complete retreat would follow Vanguard’s surprise move two years ago to scrap plans for a mutual-fund management license in China to focus on the BangNiTou tie-up with Ant that was launched in 2020.
Fidelity and Neuberger Berman Group have recently joined BlackRock in launching onshore funds through new wholly-owned units, while Manulife Financial Corp., JPMorgan Chase & Co. and Morgan Stanley have gained approvals to buy out local partners to gain full control of existing ventures.
The race for fund advisory is heating up with more players coming in, hurting profitability. Vanguard’s venture, which has been offering only products from competitors, booked a loss in 2021 that was much higher than an internal forecast made after it was set up in 2019, Bloomberg reported last year. Vanguard owns 49% of it.

https://bloomberg.com/news/articles/2023-03-21/vanguard-plans-to-shutter-business-in-china-exit-ant-jv?srnd=premium-europe&leadSource=uverify%20wall

NO BANK is totally immune to a run in deposits. It's simply the innate nature of the beast. It's a bug, not a feature, and this is not a secret.
From Matt Levine, in his Bloomberg Money Stuff column:

Banking is a confidence trick. You put money in the bank today because you are confident you can take it out tomorrow; to you, a dollar that you have deposited in the bank is just as good — just as much money — as a dollar bill in your wallet. If you show up at the ATM at any time of day or night, you expect it to give you your dollars.
But the bank doesn’t just put your dollars in a box and wait for you to take them out; the bank uses its depositors’ money to make loans or buy bonds, and just keeps a little bit around for people who need cash. If everyone asked for their money back tomorrow, the bank wouldn’t have it.
But everyone is confident that, if they ask for their money back tomorrow, the bank will have it. So they mostly don’t ask for it, so when they do, the bank does have it. The widespread belief that banks have the money is what makes it true.
This is obvious stuff. Also obvious, and famous, is that it is an unstable equilibrium. If people stop believing it, it stops being true. If everyone stops believing in a bank, they will all rush to get their money out, and the bank won’t have it, and their lack of belief will be retrospectively justified. Whereas if they had kept believing, their belief would also have been justified.
Isn’t this ridiculous? But there is a deep social purpose to the confidence trick. Banking is a way for people collectively to make long-term, risky bets without noticing them, a way to pool risks so that everyone is safer and better-off.
You and I put our money in the bank because it is “money in the bank,” it is very safe, and we can use it tomorrow to pay rent or buy a sandwich. And then the bank goes around making 30-year fixed-rate mortgage loans: Homeowners could never borrow money from me for 30 years, because I might need the money for a sandwich tomorrow, but they can borrow from us collectively because the bank has diversified that liquidity risk among lots of depositors.
Or the bank makes small-business loans to businesses that might go bankrupt: Those businesses could never borrow from me, because I need the money and don’t want to take the risk of losing it, but they can borrow from us collectively because the bank has diversified that credit risk among lots of depositors and also lots of borrowers.
But the basic problem remains: the confidence trick, where trust in banks makes them trustworthy and distrust in banks makes them fail.
Bankers and bank regulators tend not to talk in these terms... because talking about it ruins the magic. But they know it in their bones; at a deep level they understand that preserving that confidence is their most important job.
More specifically they know that if there is a run on a bank, and that bank goes bust and doesn’t pay depositors, then there will be a run on other banks. And they know that the run can start with a bank that is bad, that is undercapitalized and made poor decisions and in some sense deserves to fail, but that it can spread to other banks that are good.
And they know that “good” and “bad” are not really the things that matter: What makes a bank good is not just its capital ratios and liquidity position but also confidence, and however good the ratios it is hard for a bank to survive a loss of confidence. They know that they are all interconnected, that they are players in an essentially social game, and that the goal of the game is not to win but to keep playing.

The above are edited excerpts from Matt Levine's Money Stuff column of March 17, 2023. Text emphasis has been added.

From @NumbersGal linked article:

Bruce Fund (BRUFX)
Inception date: 3/20/1968
Capital gain in 2022: 58.7%
This fund invests in domestic stocks and bonds, along with zero-coupon government bonds. It currently has about $505 million in assets, and its price declined 20% last year. With a current NAV of $520, an investor with 10 shares worth would have a capital gains bill of about $3,100 to then pay taxes on.

Per M*:
BRUFX had a loss of (8.76%) while the Category average was a loss of (14.96%).
NAV can be impacted by distributions. BRUFX distributed both LT gains and a dividend but $3100 on 10 shares? This article seems a bit off. More Like $1000 on 10 shares. Maybe the author is a ChatGPT 'bot?
Interestingly, the last time BRUFX had an NAV of $520 (aside from the COVID hiccup) was 2/4/2019. Yesterday its NAV was $520, but had you owed the fund over that time period you would have gained almost 35%. I personally own this fund in an HSA so I pay no taxes on these gains.

BRUFX, long term, has been berry berry good to me.

A new article at https://www.fa-mag.com/news/you-re-facing-a-big-tax-bill-if-you-hold-these-mutual-funds-72481.html, which claims the data is from Bloomberg and Morningstar, alleges that the Bruce fund had a 58.70% capital gains distribution in 2022 ---- in fact it was $58.70

Swiss regulator FINMA declared a credit-event during the negotiations to trigger default of AT1/CoCo (contingent-convertible) bonds that are AHEAD of common stock in the capital structure. The rescue left some residual equity.
That of course, caused a selloff in ALL CoCo bonds in Europe.
The EU - ECB, SRB, EBA issued statements that what happened in Switzerland CANNOT happen in the EU (meaning that in the EU, the equity must be wiped out first, and then only the AT1/CoCo bonds). The BOE also issued a similar statement for the UK. But damage has been done to this CoCo class of bonds.
Jeffery Gundlach of DoubleLine wasn't into these bonds and tweeted LINK (with great hindsight):
"Jeffrey Gundlach
@TruthGundlach
·
Mar 19
Bloomberg reports the gunslingers who foolishly kept holding Credit Suisse’s bail-in bonds are angry they are being wiped out. Seriously? Put on your big boy pants and look in the mirror. That’s where the “blame” lies. Learn how to manage risk!"

https://www.sec.gov/Archives/edgar/data/1638872/000139834423006380/fp0082174-7_497.htm
497 1 fp0082174-7_497.htm
CLOUGH FUNDS TRUST
Supplement dated March 20, 2023
to the Summary Prospectus, Prospectus and Statement of Additional Information, each dated
February 28, 2023
On March 16, 2023, the Board of Trustees (the “Board”) of the Clough Funds Trust (the “Trust”), based upon the recommendation of Clough Capital Partners L.P. (the “Adviser”), the investment adviser to the Clough Global Long/Short Fund (the “Fund”), a series of the Trust, approved a Plan of Liquidation for the Fund (the “Plan”). Effective as of the close of business on March 20, 2023, the Fund will cease selling shares and the Adviser will begin the process of liquidating the Fund’s investments under the terms of the Plan. The Adviser anticipates that the assets of the Fund will be fully liquidated and all outstanding shares redeemed on or about April 24, 2023 (the “Liquidation Date”).
Pursuant to the Plan, the Fund will liquidate its investments and thereafter redeem all of its outstanding shares by distribution of its assets to shareholders in amounts equal to the net asset value of each shareholder’s Fund investment after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities. Although the Fund will be closed to new purchases, you may continue to redeem your shares, including reinvested distributions, as provided in the section of the Prospectus entitled “Buying and Redeeming Shares.” The Liquidation date may be changed without notice to shareholders, as the liquidation of the Fund’s assets or winding up of the Fund’s affairs may take longer than expected. Any shareholders who have not redeemed their shares of the Fund prior to the Liquidation Date will have their shares redeemed automatically as of the close of business on the Liquidation Date.
As a result of the anticipated liquidation of the Fund, the Fund is expected to deviate from its stated investment strategies and policies and will no longer pursue its stated investment objective. The Fund will begin liquidating its portfolio and will hold cash and cash equivalents, such as money market funds, until all investments have been converted to cash and all shares have been redeemed. During this period, your investment in the Fund may not experience the gains (or losses) that would be typical if the Fund were still pursuing its investment objective.
As is the case with any redemption of fund shares, these liquidation proceeds will generally be subject to federal and, as applicable, state and local income taxes if the redeemed shares are held in a taxable account and the liquidation proceeds exceed your adjusted basis in the shares redeemed. If the redeemed shares are held in a qualified retirement account such as an IRA, the liquidation proceeds may not be subject to current income taxation under certain conditions. You should consult with your tax adviser for further information regarding the federal, state and/or local income tax consequences of this liquidation that are relevant to your specific situation.
All expenses incurred in connection with the transactions contemplated by the Plan, other than the brokerage commissions associated with the sale of portfolio securities, will be paid by the Adviser.
Please retain this supplement with your Summary Prospectus, Prospectus and
Statement of Additional Information.

From John Authers' Points of Return newsletter today:
“'Additional Tier 1' capital was a category introduced under the Basel III banking accords that followed the GFC, with the intention of providing banks with more security.
Holders of the bonds were to be behind other creditors in the event of problems.
In the first big test of just how far behind they are, we now know that AT1 bondholders
come behind even shareholders."
"Credit Suisse’s roughly 16 billion Swiss francs ($17.3 billion) worth of risky notes are now worthless.
The deal will trigger a complete writedown of these bonds to increase the new bank’s core capital — meaning that these creditors have had a worse deal than shareholders, who at least now have some stock in UBS."
"This follows the logic of the post-crisis approach, and it limits moral hazard.
The question is whether anyone will want to hold AT1 bonds after this.
The market response will be fascinating, and it remains possible that the regulators
have avoided repeating one mistake only to make a new one."