Nature The Credit Suisse Asset Management Income Fund, Inc. ( NYSE: CIK ) is an under-followed closed-end fund, or CEF, that investors can employ as a method of boosting their incomes. That is a proposition that could prove very appealing to anyone who is dependent on their portfolios to support them, such as many retirees.
The fund’s name may, however, discourage some potential investors due to Credit Suisse falling victim to the banking crisis that occurred in early 2023. Ultimately, Credit Suisse, which had been plagued by various scandals for a long time preceding the crisis, ended up being acquired by UBS ( UBS ) before it could collapse because such a collapse would have devastated the global financial system. However, that does not appear to have had any significant impact on this fund, and it continues to operate as normal.
It might be helpful if the fund were to change its name, but for now, investors should simply keep in mind that this fund should be evaluated based on its own merits and not on the fact that it was created by the now-defunct Swiss bank. The Credit Suisse Asset Management Income Fund does reasonably well in the income department, as it boasts a 9.17% yield at the current share price.
This yield compares reasonably well to that of the fund’s peers: Fund Name Morningstar Classification Current Yield Credit Suisse Asset Management Income Fund Fixed Income-Taxable-High Yield 9.17% AllianceBernstein Global High Income Fund ( AWF ) Fixed Income-Taxabl.