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Gordon Pape: Searching for a monthly income fund? Look south Add to ...

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It seems that these days everyone is looking for yield. So it’s no surprise that a search for monthly income funds on the Globe Investor website generated 303 hits. Every major mutual fund and ETF company wants to be on this bandwagon.

The problem for investors is that there is no definition of what a monthly income fund actually is. We can assume from the name that it makes regular payments, usually monthly but sometimes quarterly. Beyond that, nothing should be taken for granted. Most funds take a balanced approach to portfolio building, but some invest exclusively in equities and a few focus on bonds. That means risk levels vary significantly from one fund to another.

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