SPE - Special Opportunities Fund: Buying Discounted Funds With An Extra Discount And Catalysts
This article was first released to CEF/ETF Income Laboratory subscribers 2 weeks ago.
The Special Opportunities Fund (SPE) ironically was born out of shareholder activism in 2009. Back then, the board of the Insured Municipal Income Fund was replaced by investment team members of an activist fund. The fund in question was Bulldog Investors, which was founded back in 1993 to focus on CEFs and activist strategies. Co-Founder and Portfolio Manager Phillip Goldstein had a fascination with CEFs as way back as the 1980s. Therefore, although SPE began in 2009, its proven experienced