Q: Please provide a current view on PGI.UN
Thank you,
Doug
Thank you,
Doug
5i Research Answer:
PGI.UN is a closed-end fixed income mutual fund that looks to invest in stocks of companies. PGI.UN primarily invests in fixed-income securities such as mortgage-related securities, investment-grade corporate or high-yield securities. In addition, PGI.UN employs fundamental analysis along with a bottom-up stock-picking approach to make investments. The fund also uses some leverage to amplify returns.The fund focuses on providing monthly income.
The fund’s holdings have an effective maturity of around 4.6 years. Over the last ten years, the fund has provided an annualized return of around 7.9% per year on average. The fund’s current expense ratio is 1.25%. As a diversifier in a portfolio, we think it looks fine.