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IRL - 5.8% Yielding 18% Discounted IRL Is Worth A Look
New Ireland Fund Inc
The New Ireland Fund (IRL) is an interesting closed-end fund (CEF) that often gets ignored by CEF investors for a simple reason: its low yield. With a 5.8% yield, it’s far lower than the 7.2% average among equity funds tracked by CEF Insider, and arguably too low for income investors when considering the risk of concentrating an investment in a single small economy in the European Union.
This in part explains why the fund has traded at a steep discount for most of the last decade, but that discount has