Credit Suisse Asset Management Income Fund

Credit Suisse Asset Management Income Fund, Inc. is a closed-ended fund, which engages in investing in the fixed income markets and companies operating across diversified industries. It seeks current income consistent with the preservation of capital by investing primarily in fixed-income securities. The company was founded on February 11, 1987 and is headquartered in New York, NY.

UBS Asset Management now advises the Credit Suisse Asset Management Income Fund, which has de-risked its portfolio and reduced 'CCC' assets. CIK's portfolio now includes 40% 'BB' rated assets with a conservative leverage ratio of 23%, focusing mainly on HY bonds. The fund's dividend is well-supported, with 87.5% from net investment income and a small 12.5% ROC figure for September.

CIK: Checking In On This UBS CEF, 9% Yield (Rating Upgrade)

The Credit Suisse Asset Management Income Fund, Inc. offers a 9.17% yield, competitive with peers in the sector. The CIK closed-end fund's recent performance has been weaker than domestic investment-grade and junk bonds, but its distribution resulted in a better total return. The fund appears to have slightly reduced the portfolio's credit risk during the first half of 2024, which is probably due to analysts expecting an increase in defaults.

CIK: A Good 9.17% Yielding Junk Bond Fund, But It Is Not Cheap

Credit Suisse Asset Management Income Fund (CIK) has a large allocation to CCC-rated bonds and 27% leverage ratio, making it a risk-on vehicle. CIK is currently trading at a 3.69% premium to net asset value, which is considered overextended versus its historic pattern.

CIK: This High Yield CEF Is Now Too Expensive

Nuveen Variable Rate Preferred & Income Fund

Flaherty & Crumrine Preferred Income OpportunityFund Inc

We review CEF market valuation and performance through the second week of February and highlight recent market action. CEF price action was mixed, with higher-quality fixed-income sectors and interest-rate sensitive equity sectors seeing lower NAVs due to back-up in Treasury yields. CEF fees are full of pitfalls; however, getting a clear picture of fees can allow investors go generate alpha in CEF allocation.

CEF Weekly Review: CEF Fees Remain Full Of Pitfalls

The Credit Suisse Asset Management Income Fund has a yield of 8.71%, lower than some other funds investing in fixed-income securities. The fund's share price has increased by 19.69% since October 9, outperforming major bond indices. The fund's distribution yield is 8.71%, but it failed to fully cover its distributions with net investment income, relying on unrealized gains to make up the difference.

CIK: Shares Of This Junk Bond CEF Are Trading At An Unjustifiable Price

Credit Suisse High Yield Bond Fund

PIMCO Energy and Tactical Credit Opportunities Fund

We review CEF market valuation and performance through the second week of November and highlight recent market action. Most CEF sectors struggled during the week, with only Muni sectors finishing in the green due to a reversal in Treasury yields. There is a misconception that the launch date of a fund gives it a locked-in yield position, but this is not true.

CEF Weekly Review: CEF Launch Date Doesn't Matter (For Income)

Templeton Global Income Fund

Barings Corporate Investors

Barings Participation Investors

We review CEF market valuation and performance through the second week of October and highlight recent market action. CEFs had a good week; however, discount action remains depressed. Equity CEFs have to rely on total NAV performance to anchor their distributions rather than net income.

CEF Weekly Review: Performance Is The Distribution Anchor For Equity CEFs

We discuss our move back to CIK - a mostly high-yield corporate bond CEF - that has been a strong performer in the sector. The fund's net income has been stable over the past two years due to a modest level of leverage and a pocket of floating-rate assets.

CIK: Moving Back To This High-Yield CEF Outperformer

Credit Suisse Asset Management Income Fund, Inc offers a high level of income with a 10.42% yield, but that yield is not impressive compared to other income-focused closed-end funds. The fund has outperformed the Bloomberg U.S. Aggregate Bond Index this year by quite a lot. The fund invests heavily in junk bonds but has a diversified portfolio to mitigate default risk.

CIK: This Underfollowed Junk Bond Fund Is Actually Pretty Good

Credit Suisse Asset Management Income Fund is a fixed income closed end fund that has been affected by Credit Suisse's merger with UBS. The merger has voided the Investment Advisory Agreement, leading to a proxy vote on a new agreement, which could see UBS Investment Advisers take over. CIK's performance has been driven by its portfolio management team, which we think shareholders would want to remain in place following the merger.

CIK: Just Vote 'Yes'

We highlight our strategy of allocating to a pair of sister High Yield corporate bond CEFs Credit Suisse Asset Management Income Fund, Inc and Credit Suisse High Yield Bond across our portfolios. Specifically, allocating to this pair of funds and doing an occasional rotation between them can deliver double-barreled performance via two independent sources of alpha. Our lazy-man approach to rotating across these funds has, in effect, more than doubled the yield on offer across these funds.

CIK And DHY: Why These Corporate Bond CEFs Belong In Most Income Portfolios

Blackstone/GSO Senior Floating Rate Term Fund

Western Asset Mortgage Opportunity Fund

Allspring Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income 2022 Term Fund

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

CEF Weekly Review: Term CEFs Continue To Be Misunderstood

Credit Suisse Asset Management Income Fund is a fixed income CEF focused on the U.S. high yield market. The CEF experienced a significant 10% widening of the discount to NAV when questions were swirling regarding Credit Suisse's viability.

CIK: Resilient HY CEF, Back To Normal

Central and Eastern Europe Fund

First Trust Dynamic Europe Equity Income Fund

Gabelli Healthcare & Wellness Trust

KKR Income Opportunities Fund

SRH Total Return Fund Inc

Swiss Helvetia Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

For the first month in three, equity CEFs (+0.67% on a NAV basis) on average witnessed plus-side performance. While their fixed-income CEF cohorts (+0.56%) posted gains for the second consecutive month.

The Month In Closed-End Funds: April 2023

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Western Asset/Claymore Inflation-Linked Securities & Income Fund

We review CEF market valuation and performance through the first week of April and highlight recent market action. CEFs had a fairly flat week with higher-quality / longer-duration sectors outperforming due to the continued drop in longer-term Treasury yields.

CEF Weekly Review: The Key Difference Between Accounting Income And Cash Flow

PCM Fund

Recent market volatility has opened up valuation divergences between very similar CEFs, creating opportunities for switches or outright holds. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance, and generate alpha in their portfolios.

Market Volatility Opens Up More CEF Relative Value Opportunities

Credit Suisse Asset Management Income Fund is a high yield closed end fund. CDS levels spiked massively for Credit Suisse on March 15 saw a massive spike in, and the share price was pummeled.

CIK: Remarkable Market Action In This Credit Suisse CEF

Credit Suisse Asset Management Income Fund is a U.S. HY closed end fund. The CEF has a 10% true dividend yield, with no ROC currently utilized.

Checking In On CIK, A Monthly Pay 10% Yielding Fund

We review CEF market valuation and performance through the first week of January and highlight recent market action. The CEF market had a strong start to the year, supported by higher stocks and lower Treasury yields.

CEF Weekly Review: Distribution Cuts Pick Up Where 2022 Left Off

SPDR Bloomberg High Yield Bond ETF

Nuveen Intermediate Duration Municipal Term Fund

Nuveen Intermediate Duration Quality Municipal Term Fund

We review CEF market valuation and performance through the third week of October and highlight recent market action. The CEF space was fairly flat this week with Munis underperforming and Equity-linked funds outperforming.

CEF Weekly Review: High Yields Understate Bond Distribution Coverage

iShares iBonds 2026 Term High Yield and Income ETF

SPDR Bloomberg Short Term High Yield Bond ETF

Western Asset Diversified Income Fund

High-yield corporate bond yields have nearly doubled this year on the back of the rise in Treasury yields and a back-up in credit spreads. At current yields, we find corporate bonds attractive in an environment of low default rates, strong macro indicators and decent corporate fundamentals.

Why We Are Buying 7-10% Yielding Corporate Credit

High-yield corporate bonds have seen their yields rise into a much more attractive territory this year. We highlight CIK - a CEF that holds primarily high-yield corporate bonds that has outperformed the sector over various time periods.

CIK: This 9.7%-Yielding Bond CEF Is Cheaper Than It Looks

CIK is a closed end fund focused on fixed income.

CIK: HY Fund From Credit Suisse, 8.68% Yield

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

Barings Global Short Duration High Yield Fund

Blackstone Long-Short Credit Income Fund

Blackrock Limited Duration Income Trust

Brandywine Global Income Opportunities Fund Inc

Doubleline Opportunistic Credit Fund

BNY Mellon High Yield Strategies Fund 

DoubleLine Income Solutions Fund

Eagle Point Credit

Stone Harbor Emerging Markets Total Income Fund

Western Asset Global High Income Fund

Flaherty & Crumrine Total Return Fund Inc

First Trust Intermediate Duration Preferred & Income Fund

Western Asset High Income Opportunity Fund Inc

Western Asset High Income Fund

Pioneer Diversified High Income Trust

New American High Income Fund

Nuveen Preferred & Income Securities Fund

Nuveen Real Asset Income & Growth Fund

Only funds with yields over 6.5%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

'High-High-Low' Closed-End Fund Report, February 2022: ARDC, HYB, JRI Buy Ratings Affirmed

Aberdeen Income Credit Strategies Fund

Alpine Total Dynamic Dividend Fund

BlackRock Credit Allocation Income Trust

DoubleLine Yield Opportunities Fund

Western Asset Emerging Markets Debt Fund

First Trust MLP & Energy Income Fund

PGIM Global High Yield Fund

John Hancock Preferred Income Fund

John Hancock Tax-Advantaged Dividend Income Fund

PGIM High Yield Bond Fund

RiverNorth Capital and Income Fund

Only funds with yields over 7%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given.

News for Credit Suisse Asset Management Income Fund ETF (CIK)