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Wednesday, February 06, 2013

Sometimes Boring Really is Better

News summary by MFWire's editors

A heavy television presence and wacky investment tirades--filled with too many media references-- perhaps will only take you so far.

Apparently, Legg Mason's Western Asset unit beats out one of Pimco's high profile funds, according to Barron's.

The financial pub cites an article by Morningstar wonk Steven Pikelny on why "the high-leverage, high-performing Pimco High Income closed-end fund and its 12% distribution might underserve investors versus the more staid Western Asset High Income Opportunities and its 7.5% distribution rate."

Two points of the argument:
(1) Many income-oriented investors aren’t re-investing PHK’s fat payouts, so a chart of the Pimco fund’s dramatic total-return outperformance is misleading.
(2) On a price-performance basis — this is what you get if you’re taking that cash out of your account — Western Asset is ahead, with less volatility.

To read more on why citing pop icons in your investment guidance isn't everything, read the Barron's article

Edited by: Tommy Fernandez


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