SCCM Enhanced Equity Income Fund Sold Dow (DOW) Amid Prolonged Market Weakness and Uncertain Recovery

Cullen Capital Management, LLC, operating under the name Schafer Cullen Capital Management, Inc. (SCCM), has released its “SCCM Enhanced Equity Income Fund” second-quarter investor letter. A copy of the letter can be downloaded here. US equities surged in the second quarter, with the S&P 500 gaining 10.9% while the Russell 1000 Value was up 3.8%. The composite underperformed both of its benchmarks in the second quarter, returning -1.2% (net) compared to a 1.9% return by the S&P 500 Buy-Write Index (BXM) and a 3.7% return by the SPDR Bloomberg High Yield Bond ETF (JNK). In addition,...