My Fund Comparison
The Month in Closed-End Funds, September 2019:
The following highlights are drawn from a report by the Head of Research Services for Lipper, and cover activity from September 2019:
- For the third month in four, equity closed-end
funds (CEFs) on average posted plus-side returns, gaining 1.47% on a
net-asset-value (NAV) basis for September, while for the first month in nine,
fixed income CEFs suffered negative returns (-0.18%).
- Only 20% of all CEFs traded at a premium to
their NAV, with 23% of equity CEFs and 18% of fixed income CEFs trading in
premium territory. The world income CEFs macro-classification witnessed the
largest narrowing of discounts for the month among Lipper's CEF
macro-groups—181 basis points (bps) to 5.26%.
- Natural Resources CEFs (+2.78%) posted the
strongest positive returns of all equity CEF classifications for the month.
- The Global Income CEFs classification (+0.97%)
posted the strongest plus-side returns in the fixed income universe for the
- For the first month in 11, the municipal debt
CEFs macro-group posted a negative return on average (-0.96%), with all
classifications in the group witnessing returns in the red for September.
Head of Research Services
Lipper from Refinitiv
Aberdeen Closed-End TV
Asset TV — CEF Channel
Cohen & Steers CEFs Knowledge Center
Harvest — CEFA Channel
Legg Mason CEFs
Seeking Alpha — CEFA Channel
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