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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: ild who wrote (75612)	3/5/2001 2:45:45 PM
From: Joan Osland Graffius	Read Replies (2) of 436258

Hi ild, I started a position in IAF recently. This is an equity fund. I maybe a little early, but I only bought a 1/3rd position. You can look at a chart and get an idea where it traded during the last economic downturn in 1990, but I think at the current price it is a fairly good entry point. If the Aussy $ goes up against the US $ it should do well. I also own FAX, a much larger position than my IAF position, this is a income fund that holds debt. The debt is high quality debt. I have been accumulating the fund for 9 or so months. There is a possibility that the dividend will go down, but if you own any bond funds the dividends have been in retreat. <g> This investment has traded fairly close to the increase and decrease in the value of the Aussy $ against the US $. If you want a Merrill Lynch research write up done in October send me an email and I will send it to you. I am not saying that Merrill knows what they are doing, but it is information. I think it depends on what your portfolio needs, equity or debt. Joan

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