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.
The firm manages assets for several FORTUNE 500 companies, foundations, endowments, public pension plans, insurance companies and another closed-end fund
, the Advent/Claymore Enhanced Growth & Income Fund (NYSE: LCM).
To accomplish these objectives, the RiverNorth methodology first weights the asset classes based on their respective net asset values within the taxable closed-end fund market and second, selects the most liquid closed-end funds within each asset class and equal weights each security to represent the asset class in the index.
RiverNorth Capital Management, LLC, is a leading investment management firm specializing in closed-end funds.
The municipal managed account, called First Trust Municipal Closed-End Fund
Portfolio, begins with a universe of approximately 110 national municipal closed-end funds
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
are priced at a discount to their NAV because managers of such portfolios are perceived as less responsive to profit opportunities.
According to Fitch's proprietary closed-end fund
leverage database, the use of ARPS by tax-exempt closed-end funds
has declined to 62% of total leverage utilized by such funds, down from 85% during the first half of 2007.
Of these, 71% are invested in closed-end funds
solely to receive income, as opposed to capital appreciation.
George has published articles on closed-end funds
in both Barron's and Pensions & Investments.
For years investors have struggled with how to view the performance of their closed-end funds