No. of Recommendations: 0
Does anyone have any thoughts on NIGIX. It's a convertible bond fund. 1% expenses. It is supposed to capture 80% of stocks upside move and 50% of downside. I've read John Calamos' book on convertibles. Most of it was over my head. The concept is that you lessen the downside risk and still get some of the stocks upside move. I believe that boomers will keep this stock market ride going for at least 5 - 10 years. Since I just retired I don't want to risk everything in stocks. I plan on having 60% in stocks, 20% in nigix and 20% in bond ladders 1-10 year. There isn't any sales charge associated with this fund. Do you know of a better fund or if there are drawbacks to this fund. It's reted 4 star by Morningstar which is better than most. Here is a link that compares the convertible funds.
The fund goes X-div on 12/31 so I plan on getting in on 1/3.
Thanks for any help that you can give me.
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