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WALL STREET'S DARKEST SECRET: 6.3% TAX FREE INCOME |
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Submitted by The Investment Shadow
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Special Report:
As of Close of Business May 8th 2015, no less than 53 multi-year experienced, Tax Free Income, Closed End Funds (CEFs) were paying 6% or more in federally tax free annual income to their shareholders... in monthly increments.
18 issues (34%) paid 6.4% or above, and the average for the group was 6.35%. All of these portfolios are professionally managed by this dozen, well respected, long experienced investment companies... the PURPOSE of these investment programs is the generation of tax free income.
Blackrock, Nuveen, Pimco. Putnam, Invesco, Alliance-Bernstein, MFS, Dreyfus, Eaton Vance, Deutsche, Pioneer, & Delaware Investors.
How difficult could it be to put together a well diversified, tax free, retirement income portfolio?
Most of these funds have paid steady, dependable, income for more than fifteen years, even through the financial crisis...several have been around since the '90s.
Yet your financial advisor has never mentioned them to you; you have never heard them advertised or even mentioned in most financial newsletters... one could conclude that Wall Street would prefer you didn't know they exist.
Wait, there's more. A May 15th data search at cefconnect.com reveals that 85% of all Municipal Bond Closed End Funds (CEFs) were selling below their net asset values (NAVs), and of those, 20% were available to all investors at discounts above 10%.
Mutual Funds (I believe) are never available at discounts from NAV, and how many discounted munis has your advisor suggested to you since 2012 or earlier? In their defense, they get no encouragement to suggest CEF investments from either Wall Street or Main Street "experts"..
Municipal CEFs regularly sell at discounts, and this morning, nearly 60% were available to MCIM taxable account investors at discounts of 5% or more.
So here we have an average of 6.4% tax free income at discounts to NAV of more than 5% in most cases...
WHY THE WALL STREET COVER-UP?
Why are you not getting more information?
Click for Details --> The Other Dirty Secret <--
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Related Tags (related articles): Wall Street
(156), income
(649), tax free
(22), CEFs
(55), Blackrock
(3), Nuveen
(3), Dreyfus
(2), Pimco
(2), Invesco
(2), Putnam
(3), MFS
(2), Eaton Vance
(3), Deutsche
(3), financial crisis
(24)
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