JPI - CEF Weekly Review: The Benefits Of An Open-Ended Fund Merger
2024-03-30 08:10:57 ET
Summary
- We review CEF market valuation and performance through the fourth week of March and highlight recent market action.
- The CEF market saw a solid rally, with equity-linked sectors leading the way.
- John Hancock Equity CEF HTY is proposing a merger with its mutual fund - this CEF to OEF merger carries a number of benefits for the manager.
- CEF activist Saba is running a proxy against a Nuveen preferred CEF, advocating for a full termination of the fund rather than it carrying on as a smaller perpetual fund.
Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund [CEF] market activity from both the bottom-up - highlighting individual fund news and events - as well as the top-down - providing an overview of the broader market. We also try to provide some historical context as well as the relevant themes that look to be driving markets or that investors ought to be mindful of....
CEF Weekly Review: The Benefits Of An Open-Ended Fund Merger