The rules-based index has two objectives - 1) to ensure the index constituents provide similar asset class exposures as the broader taxable closed-end fund
market, and 2) to ensure the index constituents have trading liquidity.
The taxable fixed-income managed account, called First Trust Taxable Fixed-Income Closed-End Fund Portfolio, begins with a defined universe of approximately 150 taxable fixed-income closed-end funds from several categories including: convertible, high yield, investment-grade corporate, global, US Government, mortgage, senior loan, limited duration and multi-sector.
Ken and Jeff intend to use their 34 years of combined experience in the closed-end fund industry to manage these new portfolios and to choose funds which they believe are being undervalued by the market.
The First Trust Equity Closed-End Fund Index is a capitalization weighted index designed to provide a broad representation of the equity based closed-end fund universe.
To be included in an index, each closed-end fund security must be listed on U.
Mergers of Three Closed-End Funds into Open-End Funds
Putnam Investments believes that the closed-end Funds continue to hold an important position in the broad range of Putnam products.
Among the other principal findings of the poll, which aimed to capture current investor sentiment toward closed-end funds
(CEFs) and index-based exchange-traded funds (ETFs):
Jon Chatfield is Portfolio Manager of CEFA's Hybrid Income Portfolio and is also responsible for managing Closed-End Fund
He was joined by his colleague Yuriy Layvand, CFA, Associate Director at Fitch, and Mariana Bush, CFA, Closed-End Funds
Analyst at Wells Fargo Securities, William Meyers, Vice President at Nuveen Investments, and Steve O'Neil, CFA, Portfolio Manager at RiverNorth Capital Management.
The court believed a correct analysis would be to take the arithmetic mean of all of the closed-end funds
, as shareholders in all closed-end funds
Both open-end and closed-end funds
are run by portfolio managers and invest in stocks, bonds or other securities.