It's trading at a discount because:
1. These "high yield" funds are always filled with crap and every credit cycle, will either blow up or end up with impairments.
2. 30% of their loans are fixed rate and durations are 3 years on average, so these loans should be trading below par
3. They have ~8% in USD loans and I do not believe they hedge their USD exposure, so these will be down a big chunk on FX losses
4. These funds should always trade at a discount because of the management fees that eat away at investor returns.
This is not even close to a buy yet.
As with the other listed debt funds, wait till there are impairments and all the wealth advisors tell their clients to sell.
It's trading at a discount because:1. These "high yield" funds...
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Last
$1.15 |
Change
-0.005(0.43%) |
Mkt cap ! $558.9M | |||
| Open | High | Low | Value | Volume |
| $1.16 | $1.17 | $1.15 | $669.8K | 579.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 44007 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.16 | 1778 | 1 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| PCI (ASX) Chart |