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The ability to buy quality funds at discounts has attracted several famous investment figures including legendary investor Warren Buffet and Benjamin Graham. CEFs, however, despite what we have said so far, still remain largely the realm of a few savvy individual investors. These investors have recognized that, apart from the traditional benefits of diversification, professional management and economy of scale, CEFs offer the investor control over pricing and timing that mutual funds don't. When judiciously exercised, this control provides the investor with opportunities to often dramatically improve returns, sometimes with reduced risk.The portfolio managers of many of the CEFs are outstanding investment professionals: Martin Zweig, John Neff, John Templeton, Mark Mobius, Mario Gabelli, Charles Royce, and others, many of whom run top-ranked mutual funds.
Closed-end funds cater to every style of investor: there are funds for growth investors (the Jundt Growth Fund), value investors (Royce Value Trust), sector investors (the Global Health Sciences Fund, the First Financial Fund), small-cap investors (the Royce OTC Microcap Fund), global investors (the Clemente Global Growth Fund), international investors (the Europe Fund, the Asia Pacific Fund), single country funds (the India Growth Fund, the Spain Fund), emerging markets' funds (the Templeton Emerging Markets Fund, the Morgan Stanley Emerging Markets Fund), gold funds (ASA Ltd.), and so forth. In addition, for traders, CEFs provide exceptional opportunites to capitalize on short-term swings in the discount relative to the long-term historical discounts.
Pardon our mess!
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Weekly and daily charts of CEFs specifically tailored for the CEF investor. Apart from the traditional market price and volume, features include weekly net asset value, discount, moving average of the discount, relative discount, +/- 5% relative-discount envelope of market price, ex-dividend dates, and a snapshot of recent data.
Most CEFs compute their NAV only once a week. For most such funds, we provide an estimate of the NAV during the week. The estimate, and the discount and relative discount based upon this estimate, are also plotted on the charts.
We provide weekly charts that facilitate comparison of the performance and discount of CEFs investing in the same or closely related markets.
A brief review of the basics of CEFs, discount/premium and the factors affecting them, and major differences between mutual funds and CEFs.
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and terms and conditions before using this service.
samraja@icefi.com
Sam Raja <samraja@icefi.com>
Although data and information are gathered from reliable sources, the Internet Closed-End Fund Investor cannot guarantee completeness, correctness or timeliness.