PCEF - CEFS: A Unique Closed-End Fund Play

2024-05-23 14:35:19 ET

Summary

• Saba Closed-End Funds ETF aims to generate excess returns by investing in closed-end funds trading discounted to their net asset value.
• The CEFS ETF is managed by Saba Capital Management, founded by Boaz Weinstein, and owns over 100 closed-end funds.
• The fund offers diversification across asset classes and investment managers, with a focus on equities, and has a high expense ratio of 5.81%.

Closed-end funds ("CEFs") are like the vinyl records of the fund industry. They don’t get much attention from the mainstream media, but they have an audience that just absolutely loves them. Closed-end funds are unique – they have a fixed number of shares, which can make their share prices trade at either a premium or a discount to the true underlying net asset value of holdings. It is from those discounts and premiums where one can potentially generate excess returns. That what the Saba Closed-End Funds ETF ( CEFS ) aims to do…in an ETF format....

For further details see: