For the month 78% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with 74% of equity CEFs and 81% of fixed income CEFs chalking up returns in the plus column. A move toward out-of-favor energy-related assets helped the Energy MLP CEFs classification (+5.90%) remain at the top of the equity charts for the second month in a row, followed by Growth CEFs (+4.49%) and Natural Resources CEFs (+3.01%). For the second month in three municipal bond CEFs posted a plus-side return on average (+1.58%), bettering their domestic taxable bond CEFs (+0.27%) and world income CEFs (-2.10%) counterparts. In this report we highlight May 2018 CEF performance trends, premiums and discounts, and corporate actions and events.
Highlights:
Download our Closed-End Funds FundMarket Insight Report: The Month in Closed-End Funds: May 2018 here.
Thomson Reuters Lipper delivers data on more than 265,000 collective investments in 61 countries. Find out more.