AF= AMT FreeH= High YieldT= TermP= PerpetualTT= Target Term 1Nuveen, Morningstar Direct as of 31 Mar 2024. Based on total managed assets of closed-end funds. 2Leverage typically magnifies the total return of a fund’s portfolio, whether that return is positive or negative, and creates ...
which collectively managed $243 billion in assets. Municipal bond funds were the largest category, accounting for $79 billion of that total. Indeed, the world of closed-end funds includes a vast array of single-state, tax-free municipal bond funds. For more on closed-ends,...
Closed-end equity funds in the U.S. include blue chip investors, small-capitalized growth funds and specialty funds such as those in health care, energy, real estate and utilities. Corporate bond funds, including multi-sector funds and convertible bond funds, are the largest sector. Our speci...
Closed-End Fund Advisors offers investment advisory services and publishes The Scott Letter On-Line newsletter, which offers a global view of the closed-end fund industry.
Instead, like open-end mutual funds and ETFs, CEFs pass the tax consequences of their investments onto their shareholders. To maintain tax-free status, a CEF must pass on to shareholders, generally speaking, roughly: 90% or more of net investment income from dividends and interest payments 98...
It notes that the appeal of tax-free income is one of the reasons investors should consider municipal bonds in 2011. Among the risks to owning municipal bonds are interest rate risk, credit risk and early call risk. Some of the characteristics of closed-end municipal bond funds that investors...
closed-end funds can have a variety of objectives. BlackRock’s Core Bond Trust (BHK) is a closed-end fund that seeks to “provide current income with the potential for capital appreciation.”1PIMCO’s Municipal Income Fund (PMF) seeks current income that is exempt from federal income tax....
Explore closed-end funds. Learn the definition of a closed-end fund and understand how it differs from an open-end fund. Discover closed-end funds...
1 Taxable equivalent yield is the yield or distribution rate needed from a taxable investment to be economically equal to receiving the stated tax-free yield from a municipal bond investment. Please note that the income levels shown in the calculator do not reflect (i) any federal or state ...
and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount...