RIV - CEF Report: Party Like It's February 2020

• In this report, we discuss what's happening in the CEF world in terms of valuations which are nearing the tightest levels of the last five years.
• Investors have a choice. They can be buy-and-hold investors and ride the wave, focusing on their income streams.
• Or they can protect gains and rotate into open-end mutual funds slowly over time knowing they are cutting their income streams.
• This is not an all or nothing type of decision.  Investors should have an ultimate target for their CEF allocation and manage toward it.

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