chamois:

Those of us who commenced bottom fishing in EDD after the recent downgrade by its own parent sponsor (Morgan Stanley), were glad to see an insider purchase this week (3500 shares at $14.82).  Any thoughts on EDD or emerging market debt CEF more generally?  AWF hasn't done well either, but the declines seem perhaps overdone. A 13% discount to NAV for EDD seems notable .  TIA

Hi Bill,

I was holding EM (local currency) debt in both EMD (a CEF, managed by Western Assets), and PLMDX (a PIMCO OEF). In the last month, I saw EMD decline from 13.65 to 12.30, while PLMDX went from a peak of 11.00 to yesterday's close of 10.96.  I see that your EDD did even worse. I don't know if it's the management or the leverage that's hurting the CEFs' performance, but I'm sticking with PLMDX for now.

--Aalan