CIK Attractively Valued With Good Coverage, But Low Share Price And AUM May Be A Concern [Seeking Alpha]
Credit Suisse Asset Management Income Fund, Inc. (CIK)
NASDAQ:AMEX Investor Relations:
credit-suisse.com/corporate/en/investor-relations.html
Company Research
Source: Seeking Alpha
In this piece, I wanted to take a brief look at Credit Suisse Asset Management Income Fund ( CIK ), our top D x Y x Z pick from our most recent High-High-Low report, as this is a fund that I haven't really looked at in any detail before. CIK is a leveraged high-yield fund with $180 million in net assets on 30% leverage. Attractive valuation CIK closed last week at a share price of $2.90 and a NAV of $3.31, good for a discount of -12.39%. It yields 9.31% on price (8.16% on NAV) with 105% coverage. It sports 1-year z-score of -3.5, indicating extreme undervaluation relative to its one-year average. However, it should be noted that the discount exceeded -16% during the 2015/2016 lows. Strong historical performance CIK's recent performance vs. the other high-yield CEFs has been strong. For example, here's the one-year price and NAV return profiles for CIK vs. the Neuberger Berman High Yield Strategies Fund ( NHS ), Pioneer High Income Trust ( PHT )
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CIK
Sec Filings
- 3/15/24 - Form DEF
- 3/15/24 - Form N-CEN
- 3/8/24 - Form IRANNOTICE
- CIK's page on the SEC website