MCI

Core Trade Alert: Update And Sell Call On Barings Corporate Investors (MCI)

Core Trade Alert:  Update And Sell Call On Barings Corporate Investors (MCI)

Summary

  • We believe that the NAV, when reported in 11 days, will result in a NAV of $13.96, a reduction of -8.7%.

  • The expected Q4 TR on NAV (including distributions) is therefore -4.77%.

  • At the current price, the premium would be over 10% and a "SELL"

  • One caveat:  High yield has come back some in the last two weeks meaning a 'current' NAV would likely have seen some rebound.

  • We reduced the target weight in the Core to zero.