FT - FT: Stick With CEFs For Multi-Sector Exposure
This article was originally published on January 21st.
After a strong and sustained rally, it is hard to find an area of the market that still offers significant value. In this type of environment, funds with the greatest ability and range to look for value offer a lot of appeal.
Our main takeaway is that the current market environment is conducive to a multi-sector allocation given the greater flexibility of managers in the sector. Among the different fund structures, we favor CEFs over mutual funds and ETFs for their relatively attractive discount valuation, reasonable cost