NMCO - State Of The CEF Market Update

• We look at some broad CEF trends that have developed over the past year, such as performance relative to ETFs, as well as discount weakness.
• In our Income Portfolios, we continue to approach CEF allocation with a margin-of-safety perspective, while also diversifying into senior securities.
• We also highlight a few Muni CEFs continuing to trade at attractive discount valuations: MVF and MYD.

For further details see: