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PRWCX has employed a covered call overwriting strategy consistently since 2008. This involves buying an equity security and writing a call option that becomes exercisable at a higher price in return for an upfront premium. In the first half of 2018, our covered call program generated 133% of the market’s return while taking on only 55% of the market’s risk. While the underlying derivatives detracted from performance in the last six months, the underlying equities were material positive contributors to performance and the combined portfolio of equities and the calls written against them produced good absolute and risk-adjusted returns.
TCAPX. Still pending. STILL!!!I understand a new TRP Capital Appreciation Income fund being discussed. Income (from higher allocation of bond and other instruments) is the primary focus similar to that of Vanguard's Wellesleye Income fund, VWIAX.
Apparently you did miss the memo:>> Do you have account with Merrill Lynch? You HAVE to call.
?? one can do a lot of stuff online, including all trading
did I miss a particular transaction or operation?
https://www.americanbanker.com/morning-scan/jpm-breaks-free-merrill-to-sweep-uninvested-funds-away-from-mmfsMerrill Lynch said it will stop automatically sweeping customers’ uninvested cash into money market funds starting in September and instead move it into lower-yielding deposits at affiliated banks. Brokers will still be able to manually move the funds into money market accounts.”
https://www.wsj.com/articles/merrill-lynch-joins-brigade-downplaying-money-market-mutual-funds-1534880179 (google search or subscription required)Merrill’s brokers will still be able to place their customers’ cash in higher-yielding money-market funds, but only by purchasing them manually.
So you have to move the money yourself into one of its "purchased" MMFs to get a decent yield:Schwab no longer allows new enrollments into sweep money market funds (MMFs), with the exception of international accounts, Schwab Managed Accounts, Schwab Charitable accounts, and certain existing ERISA plans. Existing accounts with sweep MMFs will be migrated to the Bank Sweep feature over a period of years
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