PCM, Inc

PCMI

BELLEVUE, Wash.--(BUSINESS WIRE)--PCM Encore today introduced its affiliated entity, PCM Tax, which will operate independently while providing comprehensive in-house tax and estate planning services to the firm's growing roster of family office and private wealth clients. Joe Hendrickson, a seasoned tax planning executive who previously advised Berkshire Partners' managing directors on complex in-house family office matters – including tax strategy, estate planning, and wealth structuring – has.

PIMCO delivered two big distribution cuts for RCS and PCM. Key factors influencing distribution sustainability include borrowings, leverage, NAV distribution rates, and fees, with NAV distribution rate being the most critical. PDI, despite being in the danger zone, avoided cuts likely due to its flagship status, though its NAV has declined and will likely keep declining.

The PCM Fund aims for high current income by investing in agency-backed MBS, non-agency MBS, investment-grade and high-yield corporate debt, and commercial mortgage-backed securities. Historically, I avoided leveraged CEFs like PCM due to the unfavorable risk-reward profile during the Fed's rate hikes and yield curve inversion. My caution was justified as PCM's returns have been flat over the past 2.5 years, under-performing other risk assets.